If you need a large meat shield to soak up hits while the real soldiers try to do some damage in a life-or-death situation, then go for it. If you are expecting the citizen militia to be a real military force, then you are in for a rude awakening.
I've seen the option used once or twice. Every time, it's been a disaster. A good way to depopulate your own regions, though...
I assumed it would be basically weak units that would pop up everywhere (it was); got fewer than I was expecting in the city despite high realm sympathy but it is what it is. Can they be reassigned by the General like regular militia?
Also, what affect does combat actually have on ability to conduct takeover actions?