In VS 2003, the designer was criminally unusable - a complete lack of understanding of whitespace, crappy HTML, and it would reformat things almost at random. In 2005, it got a bit better, but it's slow and still mostly unfriendly, although it doesn't seem to mess with the whitespace as much. I've played a bit with VS2008, but I've developed the habit of using the text view.
So the answer is no, I don't use the designer. To answer the question, the only thing it seems to be good for (in the later versions, anyways) is to set properties via some of the built-in wizards. (I will admit to using it to construct db connection strings for a new database, but then it's right back to text mode!)