I've used it against a player once. An Astrally projecting magician used Banishing on a spirit that one of my players summoned, but he did so immediately after the spirit had just Materialized. Because of the spirit's loss in initiative, it didn't act again until after the magician, so the opposing mage was able to re-summon it.
It was actually a very interesting situation, because from their perspective, all they noticed was that the spirit materialized, and then something felt weird and the spirit just didn't do anything. The next pass, the opposing magician commanded the spirit to turn on its former master, so it did. Shenanigans all around.
Long story short, that astral magician pulled all sorts of havoc on the group until the PC mage finally looked around in the astral himself, and immediately got dropped with an Astral Combat attack (or a Mana spell, I forget). Then the Astral mage popped back to his body, cast Invisibility and slinked away.