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I did in FM05 and FM06, but I found that, It wasn't "Unreal players", just different names. For example, in the arsenal team, there was still an Amazing striker, a great defensive midfielder, some great young players, just with different names. More often than not, they would be the same nationalities as their counter parts too, and also have the same, or a similar age.
It would be easy to got to a well know club, say, barcelona, and identify who the players were (Ronaldinho, Eto'o, Xavi, Puyol etc).
I am however, under the impression this is different since FM07, and you now have completely new players generated, although I'm not 100%. Playing a game with real players and getting so far that they are all Newgens is a much better experience, in my very humble opinion.
I can't imagine playing with out real players in it. But some would to increase the challenge of finding players into the team. Its very hard work, and some people want that option off. Still, I think it should always be there. Adds more versatility to the game.
like already said, its pretty obvious who's who, especially if you play as the team you support
e.g.
the old, german keeper is obviously Lehmann
the tall togalese striker is Adebayor
the spanish midfielder who has great passing and is young is Fabregas
when you play as a really small team, its unlikely you will know anyone anyway, whatever name, so its pointless. If you play as a big team, you will know who most are, so its pointless.
I often start games without real players, I find it more enjoyable to start with a team and not be able to just search for players that I have had good experiences with in previous save games or that my mate will suggest to me. The player search and development is completely up to my skill at the game.
And I just enjoy having a complete alternate football reality.
But thats just me
I play with it ticked for when i'm plying as Millwall (my team) but the rest of the time unticked. I just find it more of a challenge and gives a more realistic managerial viewpoint on the game. If you use real players there's always the temptation to look up player guides or always buying the same players over and over again.
I have yet to find the goalkeeper I signed in my Millwall game for £16k in any of the other games. If he's still in the game he's obviously not in the Premiership anymore, i've looked. So in some instances the players change quite a lot.
Use real players??? 
Linear Mode
