The general answer is "yes with caveats"
I'm not really a user of BuddyPress, so depending on your utilization of BP there may be elements that integrate well and some that don't. I have users that are quite comfortable with the integration and others that have challenges. (Unfortunately, some of that could also be based on the user's knowledge of PHP, WP, and other things and not just the plugin.)
The plugin does have extensive documentation (that is always evolving - as I am able) and also has 31 action and filter hooks, so it is quite flexible/extensible.
I know that's not really a direct answer to your question, but it's what I know. Hope it helps...