First, it's hard to check-raise from late position, because it's unlikely there's someone to check to.
Check raise is most profitably used against players who regularly/constantly c-bet their preflop raise, especially button raisers. It doesn't matter, sometimes, if it is a check-raise bluff or feeler bet -- it is quite possible the flop missed Mr. Pre-flop raiser also, and will often convince him to exit. If he re-raises, the flop probably did not miss him and you know to fold. If you have a great hand, you can either call or shove then. It's fun either way.
The check-raise can also be used profitably with a very good hand. I will sometimes check-raise on the turn not the flop, because I want the other guy to feel confident) with the nuts or a set, particularly against an aggressive player who will keep betting his TPTK -- but remember that will mean you will have to keep leading out the bet. Few players will bet if checked to after they've been check-raised -- unless they have a monster.