This is how I distribute Grow (grow.io), a Python program. It's worked really well so far, but it's also produced a few issues in development, for me.

For example, PyInstaller itself changes drastically from version-to-version, and I've previously had to spend hours picking away at why "compiled" Grow worked before but no longer works post-PyInstaller updates.

Overall happy though, and much happier to write in Python and distribute a single executable without requiring folks to muck around with Python versions, pip, dependencies, etc.