I know two men who did try the diet after reading 4 Hour Body. One was successful for about a week before he got bored (the cheat day was not sufficient to cure his boredom) and the other lasted a couple of months and lost quite a bit of weight. He has since gained quite a bit back, however
I did read the diet portion of this book. I liked the ideas at first, but I quickly saw that I would get bored of the meal rotation that he advises and the lack of fruit that he suggests. I also think that beans can be irritating for some people, so I'd watch out for that.
I read the Primal Blueprint by Mark Sisson soon after and those ideas clicked much better with my personality and my digestive system. So I would certainly vote for going primal/paleo over 4 Hour Body. But hey, to each his own!
If you do try it, let us know how it goes! Best of luck!