Absolutely!
Especially where legal. Stripers, LM's, troutoids, carfish, whitebass, BG's, crappie are some of the stuff that it has been necessary to shine a flashlight on to see to hand.
One thing we find VERY handy on a full line for night fishing is to put a small nail-knot of mono on your line (at about 35'-40') for an AUDITORY referrence spot. When we use shooting heads, we already have one.
.....lee s.