It's a great asset if you know what you're doing. I think warcraft2, starcraft and the older Command & Conquer games look fantastic and often better then their new realtime 3D counterparts. If you're properly in control and have enough resolution to go about, then by all means, it's a good way to make graphics. Golden Sun is one of the worst i've seen yet, mostly due to kind of bad 3D models and the low GBA screen resolution.
Other good examples imo: The Reap (by housemarque), Esp.ra.de and Ibara (could use higher resolution though)