Does anyone have any experience with Custom Variables in Google Analytics?

We’re looking at setting up Custom Variables on the website to track certain segments. From what I’ve read, there is generally a 24 hour time lag between when you set up your custom variables and when you start to see data in GA. That’s a long time to wait to find out if you’re doing it right. Has anyone set up custom variables for their site? Is there interest in our community to better support this feature?

Definitely interested in the Custom Variable function of Google Analytics