Yes it still works and this is the method :
1) Inside your house activate any book case.
2) Find the Oghma Infinium book in your inventory and read it. Make sure you are still in the bookcase menu!
3) Choose the path you want to take, which are Magic, Warrior, and Thief increases. Once you chosen your path press B and then X to store it, Go slow when you do this so you will have a smaller chance to mess up.
(Make a save before hand, so if you do mess up you will have a save to restart with)
4)Once the book is on the shelf again, just read it where it sits, don't activate the shelf. When the book menu asks you to choose a path select "Do Not Read" and then hit A to take the book.
5) Just follow steps 2-4 again and just repeat! You will have maxed skills in no time.
In my opinion, i think you shouldn't do this glitch because it ruins the game for you...Enjoy! 