If you can somehow trap a staller that isn't resistant and can't status you, then I can't see why not.Could Fly ever be used successfully in competitive play? Now that I think of it, if a fast Pokémon uses it on the first turn, it avoids a Taunt/damage, scouts that move, and potentially scouts another Pokémon on the opponent's team as he switches to avoid damage.
But I highly, highly doubt it. xD Surf and Waterfall are still the only usable HMs.