I have a number of friends who have done it, and several who can act as evaluators for the champion title.
I haven't done it myself because I kind of feel like I'd just be forking over a boatload of cash for a few extra letters behind my dog's name. She already has all the requisite skills, but they want $25/title plus $100 or whatever for the CH.
It's great when it acts as inspiration to work with your dog, but, yeah, I doubt I'll ever do it with Cohen.