Absolutely. I love Vagrant. Last night one of my virtual machines flaked out, and because everything was managed with Puppet, I just deleted the VM and told vagrant to recreate.
10 minutes later I was back in business like nothing happened.
Had a physical machine of mine failed it would have been a fun few hours of machine debugging, instead of "oh, I'll just destroy and recreate the VM, no biggy"
Interesting - I see we both have projects on github called "vagrant-base"!
On mine (https://github.com/drench/vagrant-base) each branch sets up a different environment (Drupal, node.js, generic "LAMP", etc.). They currently all use shell scripts for initialization, but converting them to Puppet is on the list. I may borrow from your project's Puppet manifest.
Activity Monitor tells me my single VM running in the background is taking up less CPU time than Skype (which is also idling in the background).