I tried it when we got our pups at 8 weeks as it was recommended by our breeder and I have to say (although I don't think it'll make me very popular on here
) that her methods worked for my two. I ignore mine for 5mins when I come back into the room until they have calmed down and then I fuss over them. This has more to do with wanting the desired behaviour rather than being too tired to go near them! At first I felt really bad for doing this, though but after a while, they stopped jumping up.
Also because mine pulled on the lead really badly at first, I've used her methods to train them to be calm before they go out a walk - and I always go out of the door first now. I find with my two that they are much calmer dogs because of it and when they come up to me for a cuddle now on the sofa, it's more of a special time for us all because they have been invited up instead of leaping around all over us. which is what they had started doing!
This is not to say that we don't play or go out and have games and fun but my two have learned to be calmer around the house in order to get attention. If we start a family, I'm sure I'll be glad I taught them this.
I use rewards based training, though. Never negative re-inforcement.