I have used this method on several occasions with great success every time. The last time I did it I cycled a 55 gallon in 3 days. There are a few ways you can do this: you can borrow his filter (since he has more than 1 his tank will be fine) and run both your new filter and his old filter on your tank for a couple weeks, or run your filter on his tank for a couple weeks, or use as much of his filter media as you can get in your filter.
The important thing to remember is that the bacteria in the filter needs an ammonia source or it will die. That's good news for you, meaning that it's best to add fish immediately when you add the established filter or media to your tank. Stock lightly when you do this, and then when you add more fish do it slowly. Just make sure you dechlorinate the water before adding the filter or fish, and be sure that the temp has stabilized and is where you want it. Test your water every day until the tank cycles. I had a small nitrite spike on the 2nd day, and easily kept it under control with a water change.