I use a variety of formations, both narrow and wide, but I prefer 'dominating' or 'active' styles of play rather than staying at the back and waiting for the opponent to come at you. The formation depends on what I have in my team and what the opponent has and is likely to use.
Last year, for 2 seasons, I did use 4-5-1(V) as one of the main formations. But last season, I did not make use of it even once.