I did for whitetail when I lived in the midwest and still have one, but haven't found that spot for elk hunting that it was worth the effort to pack it in, put it up and climb into it. When elk are consistently hitting farmer's fields, it can be valuable.
My dad was sitting and I was calling one morning for about 2 1/2 hours before my dad looked up to stretch and saw a guy in a tree stand just sitting there looking at him. It was kindof funny, I told my dad to watch out on Youtube for a video of him falling asleep while sitting on a stump.
I hunt whitetails out of a treestand every year. I used a treestand for elk hunting for about 3 years. It worked out great. My dad killed a nice 5x6, and I shot a 6x6 out of the same stand the following year. If setup in the right spot, treestands can be very effective for elk hunting.