Toggle Bolts?

Was looking at various accessories, and how to mount them when strength is required.  I saw that some accessory makers are shipping toggle bolts for mounting stuff like trolling motor mounts and Boonedox style wheels.  I am wondering if anyone is using them for other stuff in situations where they can't access the backside to reinforce with plates/washers/etc. 

Seems like the process is:
1. Drill a hole large enough for the toggle part to fit through. 
2. Unthread the toggle from the bolt, slide bolt through your accessory, slide a well nut that fits your hole onto the bolt, then thread the toggle back on.
3. Stuff the toggle through the hole, and tighten the bolt/bolts.

Anyone here use toggle bolts for heavy duty mounting?  Thinking about gear track/downrigger mounts/trolling rod holders/etc.  Seems like it would have to hold better than just screws or well nuts for heavy duty situations where access is impossible.