After a few years of hard use (I have two kids who love my iPhone) the home button stopped working consistently. Paying someone to do the repair was too expensive, and I don't plan on getting a new phone.
The repair went reasonably smoothly, although the whole operation took about 2 hours from start to finish (admittedly I was multitasking) it was mostly because the reassembly of certain parts (notably reconnecting the antenna) took extra long.
If I had to do it all over again, I'd make sure I had a magnifying glass to help with the reassembly. Certain parts require a very steady hand, a great deal of precision alignment and a fair amount of squinting.
The other advice I'd give is to use a different color button than your case. It gives the phone a two-tone look and proves to the world you can repair your phone yourself.