There's been a lot added to this thread, but I'll just chuck in my experience since I've been experimenting with Patient off and on the past few seasons. My biggest lesson is this: when you just know that you're facing a solid outside defense, don't try this offense. I say this since more times than not my SG will shoot a lot. A whole lot. And we're not talking about the greatest shooter in the world, and definitely not my team's best offensive option. I usually run with 2 or 3 good passers every game, and the last time I ran Paitient
(32851850) my two best passers were at the guard spots and my SF was also a pretty good passer (he's trained as a balanced SG), yet my SG took 46 shots, more than half of my team's shots, and only hit 14 of them. Granted, he had a decent mismatch to exploit, but I can't believe that his mismatch was any better than what my C had, at least not to justify the sheer volume of shots he took.
Anyway, I have had the occasional successful game with Patience, but in big games that offense has typically failed me. I'll probably try again some time when I think my roster is better suited for it, and perhaps when I throw a very bad shooting SG to see if he won't shoot so much. But I'm staying away from Patience for the next few weeks...
Don't ask what sort of Chunks they are, you probably don't want to know. Blowing Chunks since Season 4!