As a general moral rule, I think it's pretty good... although the "negative golden rule" version articulated by Confucius works a little better, for example:

"Don't do to others what you don't like."

The biggest problem with the golden rule IMO is there's an element of relativism in the rule. Two people might have different likes and dislikes, but the rule will cause each to impose their preferences on the other. I think the rule should be"

"Don't do to others what *they* don't like (unless they will thank you in the long run)"