It works for most low-nute mediums...prolix is an example, also coco coir. The reason you shouldn't need to ph is because if you start with 0 ppm RO water and mix nutes in the prescribed ratios it should be REALLY close to target ph automatically based on the acidity of the GH nutes. If you use tap water, use the GH micro hard water formula and ph adjust as required. There are a bunch of threads on successful grows in peat based mixes on icmag.com.
Edit: I'm going to do an experiment right now and post in the indoor grow section. If I can follow the most basic formula using Deer Park Distilled water and get the pH somewhere close to 6, I'm going to do a Dinafem Haze 2.0 grow in a 2g dirt bag w/Sunshine Mix #4 Advanced. My TLO party cup plant was tits-up when I got home tonight so I threw her out, gonna get some good genetics germing tonight and I want to give this Lucas thing a whirl. Take a look in an hour or so, I'll post whether or not it works...