In my experience it has worked as well as the best known results for propecia, which is I got substantial, moderate-to-dense, regrowth from using Dr. Lee's 2% as a single agent and only after 3 months. See my other post for details. IMO and IME, its best treatment on the market for male pattern baldness.
Well I've been on the 5% lotion for about 6 months now but the results have been less than thrilling. Like someone said in another post though, it looks very good on paper.
I don't know anything for certain yet. All I know is that I have had thickening and no real cosmetical regrowth as far as I can tell. And the thickening could have been contributed to the lasercomb which I started about the same time. My receding seems to be worse than before but my crown looks better so it's hard to be sure what's happening. There haven't been any miracles yet but I will continue using spironolactone for probably a year before I drop it, if ever.
I am getting great results from six months of a minoxidil/spironolactone/Nizoral regime, in addition to a renewed committment to healthier living that I took up about the same time. Can't say exactly how big a factor the spironolactone has been in my results, but I am not about to stop it given how kind this regimen has been to me.
I agree with Jesusfreak... I have tried both the 5% in the cream carrier and the 2% alcohol base, and I think the 2% is more effective. Not a scientific claim, just a personal feeling I had after using both.