It works if you get lucky, and the other guy doesn't go for an early aggression build.
I generally go this BO.
9 Pylon
14 Nexus
16 gate
18 single/double cannon
19 Core
Continue to mass gates/tech.
Ad lib as you need to survive.
You will be cutting quite a few probes at the start from the need to get buildings up. It takes a while before you can constantly produce probes from both Nexuses.
Once you get past that window where you're vulnerable, though, you are in a very good position (obviously)