I make all my own bait and only started doing it this year and it scored straight away for me and is still ripping the lake apart 8 months on.
The way i see it if its a HNV bait then prebaiting with it will almost certainly work but if the bait has no nutritional value then the fish will recognize this and stear clear of it eventually, but then it depends on stock levels and how much food gets chucked in and how much natrual food there is.
The one thing i will say is it takes ages to clear up the kitchen after and your house will stink for days afterwoods, but if you have the time then i would encourage anyone to give it ago so good luck mate