Do you ever use margarine instead of butter when you bake and if so, what is your opinion of the results?

I recently lost a whole lot of butter due to Hurricane Sandy. I had a few lbs of it in the freezer and had to throw it all out. I buy it on sale for use when I bake, not that I bake a lot but I’d rather get it on sale and be ready than have to run out and pay more for it at the last minute.

The other day I went to the store and saw margarine on sale and bought some. We were never a family that used margarine, either for baking or on the table. I guess my mom saw it as a “lower class thing” and we were always a butter family. However, seeing the price difference makes me wonder if the results will be satisfactory for baking.

What is your opinion of margarine for baking? Is the flavor as good? Are cookies more runny and loose than if you use butter?