I find it is, especially when you're not stationary. You can use a wall to have a look at how nicely your bullets spray at a reasonably distance.
Try shooting again but with bursts. Ofcourse its not as accurate as ironsights, but it has a lot of uses. Ironsights slow you down. Hip firing does not.
In CQC, anything but hip aiming is just asking for trouble. Your slower with ironsights (more stationary), and it takes longer before you can fire the gun. Just point the crusor at their chest\head area, and fire off.
Works quite well at medium distances also, depending on what is happening and on the gun you are using. M16 for example, is a excellent weapon for hip aiming at medium distances, which you wanna do if your in a hurry and dont want toget slowed down by ironsights.
Despite having the "fire from the hip" perk, I have the feeling the accuracy or damage you do when firing from the hip is dumbed down even more when firing at someone.
Damage nor the accuracy is dumbed down even more when firing at someone from the hip.
In MW2 it's only usable in very close combat. Most of the time, I'm better off starting to fire from the hip while going into iron-sights while still aiming at him.
Its very useful in a lot of encounters, you just haven't explored it enough, or you have been using the wrong weapons, or your spraying and not using bursts. Try Uzi+Steady Aim and fire short bursts. Youd be suprised.
I'm having to resort to camping because in a 1 on 1 confrontation, even if I get the jump on the other guy, I have a good chance of dying because I got stabbed.
Initially i got stabbed quite a lot, but i think its mostly just because we where used to MW1, where stabbing range is smaller than MW2. In MW1, when somebody was in range and stabbed you, there was also little you could do, even if you where firing at him, just like in MW2.