I had some luck with one…disrupted it with a Churchill, then double outflanked it with the Churchill and a Sherman…badda-bing, badda-brewed-up Tiger. :D
Seriously, it depends both on the terrain and on your opponent making mistakes. The sixth map configuration in the rulebook is called ‘Tiger Heaven’ for a good reason - nobody else has anything to hide behind! On that map, a big, long ranged tank rules, even if there’s only one of it.
On other maps, it’s a different story, and the Striped One can be stalked by faster and more numerous opponents. Personally, I think the points are better spent on two Pz IVs, but that’s just my opinion.