I think it can work well. Especially if you want to link to Twitter and Facebook (which I know some businesses as well as individuals do) I will be getting that up and running when I'm ready to launch (well pre-launch really )
I've connected Instagram both to Twitter and Facebook. Since last night (and this morning),I have posted four pictures. With one of them getting 14 shares and 15 likes on Facebook! I've had an extra 9 likes to my facebook page and now have 40 followers on Instagram.
I only opened the account last night! I've tried to do as the article James posted suggested. I've 'gone out there' with my images. The one I posted which got 14 shares last night was a quote image.
I'm going to try and stick at this one, it is really quick and easy to use as well.
This is something that could work. Not particularly for my business, but it could for anything that requires displaying a product - particularly in markets such as fashion and design. Anything that can encourage a loyal following is worth exploring, and if you find that it doesn't work for you then there's no need to continue down that road.