Do you mean ghetto as in "non-UST", or ghetto as in "not Stan's or Joe's"?
If you just mean non-UST, I just built up a cross bike with Stan's tubeless. In the previous year of running those same wheels tubeless on my 29er, I got exactly one flat, a big sidewall tear. I booted it, put a tube in and rode another 10 miles.
I've only got one ride on the CX bike with the tubeless wheels (just today, as it happens) but IMO it's spectacular. I did a few miles of somewhat technical single track even. I'm running 40psi in 33c tires and could easily go down to 30 if conditions warranted. (I would run 2.3 MTB tires as low as 18psi in wet climbing situations.) I love the feel, especially when climbing rough terrain, and I love the weight savings. You will want a compressor though.