If you have enough way on to combat the prop walk, yes. But in a situation like backing down trying to come to a stop (at least in my boat, a 1962 Block Island 40) there's a very long "dead time" while transitioning from slowly moving forward to slowly moving in reverse where the rudder just doesn't do anything. The way I maneuver in these situations is to do all my heading corrections in forward gear, where prop wash over the rudder gives it authority. So it's a game of shots of reverse, corrections, rinse, repeat.

EDIT: also planning ahead is important, because if I do it right the prop walk in reverse can be used advantageously.

Also, with the BI-40's barn door rudder it'll slap you through the wheel if you're not careful. Almost broke my leg that way, not a lesson to forget.