I've heard good things about it. I quit smoking a few months ago, but without hypnotherapy. It's really not as hard as everyone makes it out to be. It is totally a psychological, not physical, challenge. All the publicity and people complaining about how hard it is really had me worried about it. But there's no trick to it, you just stop smoking, and then forget about it and move on with your life. Sounds simple, and it is, but most people make it so much more complicated than that, trying to cut back first, or chewing gum, etc, etc. The main thing is that the minute you stop, you are a non-smoker, and from that point on you stop obsessing about it and continue your life like nothing happened. And make up your mind that you will NEVER smoke again. Ever. One casual cigarrette at a party will get you started again (I know because it happened to me once before).
It was actually quite enjoyable to feel the changes in my body taking place in the week or two after I quit.
I read a book that really helped me by putting me in a good frame of mind and realizing that quitting is not so hard. It's called "The Easy Way to Stop Smoking", by ___ Carr (can't remember his first name). This guy smoked 3-5 packs a day for 30 years and then one day just completely stopped.
That being said, I've heard that hypnotherapy is a very effective method, so by all means give that a try. And good luck!