Yes. It is one of the few bike skills I have mastered and I do it all the time, even downhill. There isn't a traffic light that I can't track-stand on my five mile London commute and I do all of them often, although because it needs some concentration I don't do it if I think I need to be paying special attention to traffic and pedestrians. I find it a great incentive not to RLJ, and it improves the leg muscles. Most of all it gives me a whole new level of control over the bike.
It took a few months to master but isn't that difficult once you 'get' it and find the sweet-spot for balance. Now when I practice my legs muscles usually give up before I come close to losing my balance. I sometimes wonder why more people - most of them clearly better/more experienced bikers than me - don't bother mastering this skill. I suspect it's because it does take some practice before you can bring it to the road and the time spent acquiring it is time taken away from actually riding. I usually ride a MTB but haven't found I bike I can't track stand yet, including my Brompton (albeit not for as long). I'm told fixies are easier to track stand, but I think that may be a bit of a cheat - lots of rolling the bike back and forth, which is part of the skill, but only part. Road bikes are the most tricky in my experience. Not the right bike to learn on anyway.
I found some of the advice on the internet misleading, for example there are times when it helps to push against the brake contrary to what some bloggers say. Also some of them don't tell you to turn the front wheel far enough - it's sometimes better to have it turned further than 45 degrees. Basically it's a case of practice, practice, practice. I reckon anyone can do it if they want to.
Now riding hands-free, that's another story.....
I actually find it easier on my road bikes than I do my fixed gear, is that weird, I don't know?
