It works to some degree, and has the advantage for the subtitling companies that respeakers are easier to train and don't need to be paid as much as a proper stenographer. The disadvantage is that the output is much slower and subject to a rather greater delay. There is still nothing that beats steno - but respeaking is cheaper and people don't complain enough about the inaccuracies.
What software/sdk's have you used?
There are no automated solutions that can universally do a good job of transcribing natural speech from people who aren't specifically "speaking to be recognised", if that makes sense.
Maybe one day, but not yet. It's a problem waiting to be solved, so the reward for the first who can really crack it will be substantial.