Its all I use. I have used it for several years now. Here in the south, electrical tape tends to turn into a gooey mess in the heat. I have it in several colors: clear (its more like a cloudy opaque), green and red. I use the clear on most bikes (I am a flipper, so I use this stuff a lot). I tend to buy several of rolls at once, on fleece-bay.
The stuff is super easy to remove. Just cut a slit in it on one edge, and pull it off. The great thing about this stuff is that it ONLY sticks to itself, nothing else.
Here's clear on a 1983 Specialized Sequoia.
And here it is in red (1991 Schwinn Paramount Series 3):
And red again on this 1989 Gazelle:
bill