I've used run/walk and still do, a bit, on longer runs, but wouldn't if I was as good a runner as Tim and Hilly. It's quite difficult to slow down and walk when your legs want to run!
When I restarted in July after a break, what I did was less run/walk than walk/run.
Where it does help is that if you're doing a distance that you know will challenge you, if you plan walking breaks into the EARLY part of your run rather than waiting until you're desperate for a rest, you'll probably travel further and faster than if you pelted out the first few miles then were forced to slow down.
So - sensible, and not at all wimpy.