I haven't, but I have looked into it. Years ago I was running around 40 miles/week. I'd do 6-7 miles at a time for my long run of the week. After I quit for a few years and then started up again I looked at that program. 3 miles a day, 4-5 days a week is a pretty good exercise schedule. After you've been there for a while it's easy to add a day or some mileage, but most things I've heard say don't add more than 10-20% per week.
The Couch to 5k program is pretty good, from what I can remember, and I've known people that have done it successfully. I can't remember how many weeks it covers. One of the things to consider is not to compete against yourself too much - you'll overdo things, get hurt, and have to start over.
There are two things about working up to a 5k: time and distance.
The way I started (Try for 5 days a week. I'd take Mon and Wed off, or two other non-consecutive days):
When you get started, go for time. Figure 20-30 minutes of moving your body over the ground. Walk for 30 minutes the first week. Then walk for 4 jog for 1 and repeat 6 times. The next week, walk for 3 jog for 2, repeat. The next week walk for 2 jog for 3, repeat. Eventually you'll be jogging for 30 minutes. Now that you can do 30 minutes, you start to look at how much distance you've covered in that time and gradually add distance until you reach 3 miles (5k) while keeping a nice easy pace. THEN, you start to increase your pace and keep the distance the same but lower your time.
I don't have the C25K schedule in front of me, but it's probably similar.
Shinsplints and plantar fasciitis can be killers. Changing running shoes can make a huge difference. There are some stretches than can help.
If you really are serious about it, you can find a running store that will fit you to shoes specific to your weight and stride. You don't have to get too crazy on prices, but figure that your everyday worn-out shoes you currently have are going to end up making you hurt.