We have been using it now for the past year and a half, and are mostly satisfied with it. One limitation it does have, if you plan to do any usage-based billing, is that usage has to be rated and billed within the same period as the billing frequency.
Where it can be a problem is if you have a customer that you want to bill monthly, but have usage tiers that stretch over a longer period, like a year. SuiteBilling doesn’t support that. It’s a surprisingly common scenarios for our customers, but maybe not in all industries.
Aside from that, it has worked quite well for us.