I've never tried, but it should work rather nicely.
The only problem i'd see, would be the axle; I don't know if the axle would manage the forces involved when fastened only to one side...
If used as a (wind)generator, one shouldn't use the GM controller at all, but 3 bridge rectifiers and then straight into a battery. Also, a diversion controller with a dumpload would be needed to avoid frying the battery when it's fully charged, and to avoid a runaway of the windgen...
Depending on the quality of the blades you produce, i'd guess 50-150% of rated power... But at that power, you can say goodbye to ties as fasteners...
Edit:
I'm soon finished with an 2m diam. windgen built from scratch, and the axle/bearings i'm using are from a rear axle of an Ford Fiesta...
3 blades made of 2"x6" pine, fastened to the hub with 56 wood screws and 4 M12 bolts. I use 8 20x25x50mm n42 neo magnets and 6 handwound coils with 1mm copper wire. i'm expecting around 400-500W peak from this gen.