Worked for us at Viaweb and Y Combinator. Works for most of the 58 startups we've funded.
And btw, you're misinterpreting my analogy about the plane, but I'm out of stock on "no, what I meant was" so I'll leave it as an exercise for readers who care to figure out how.
I'm sure concensus management has worked for you-- never said it didn't and haven't said its impossible. However, the problem is that you're saying people must have a co-founder, and that they must manage this way... and there's a big difference between having a cofounder you've known a long time and getting a cofounder because you foolishly followed the advice of a self styled guru.
If my response seems harsh, its because your tone is pretty strong. If you expressed your opinions in terms of preferences it would be one thing-- but you lay them down and defend them like they are religious law, and do not respond to the fact that this religious law does not work in all situations... which brings us back to the plane analogy-- its great for trying to make me look stupid, but its piss-poor (actually irrelevant) for arguing against what I was actually saying.