I've done it in various forms. I prefer Carb Backloading and skipping breakfast. If it works for you, keep doing it. Good luck with your weight loss, but please consider focusing on body composition and not just the number on the scale.
I always practiced fasting as a strictly religious discipline, never really thought of using it as a weight loss plan. While leading a weekly Bible study in college I fasted 24 hours prior to the scheduled meetings.
Religous or not, there definitely are some health benefits to fasting in modern American society where we routinely consume more food than we need, along with 4-6 pounds a year of chemical additives, half or more of which are carcinogenic.
One point of caution...when the body is deprived of food, metabolism slows down in order to conserve energy, and at the end of a fast, the subject could end up gaining weight. Reintroduce food slowly until metabolism has a chance to pick back up before returning to a regular diet.
Read "Carb Backloading" by John Kiefer.
Intermittent fasting is probably simply rediscovering how an old religious practice works:
The point of religious fasting is to exercise the functions in your brain that regulate staying "on track" for accomplishing a goal. The sub-functions include monitoring your progress towards the goal, noticing deviations, and supressing urges and habits that get in the way of accomplishing the goal.
The goal could be "salvation" or anything else. It could be improving your patterns of behavior to make them more ethical. Or being a more effective person. Hopefully, all of the above.
As a religious practice, it's a subset of a lot of other practices, most of them forgotten, referred to collectively as "austerities". I suspect most of them work similarly. Fasting is interesting because it has a side benefit.
Namely, that after you have gone without eating for over 12 hours, your body produces a hormone that has the effect of re-callibrating the effectiveness of insulin. That's what helps maintain a trimmer figure and improves the prospects for longevity.
It is my method of choice for fat loss now, and I've experimented with others (low carb, etc).
I tried a little intermittent fasting two summer's ago when, in my early bulking, I realized I had been perhaps too successful as my pants started getting tight around the waist, something that's never happened to me before.
I did the 16 hour fast every day, essentially skipping breakfast. Surprised I could do it after a lifetime of being told how important breakfast was.
Over the summer I lost my fledgling tire, and I am sure it was an important part of that loss.
I would do it again, though I think the best way is to monitor your fat levels and modify your activity/intake before you notice it in your clothes.