Brad and I have been doing lots of top working larger trees and single, double or multigrafting smaller younger trees. Single or double grafting smaller seedlings is easier because you only have to get a couple grafts to take and as the tree matures, the whole tree becomes those varieties you grafted.
Top working a tree is a pain in the ass because of all the grafts(scions) that must be used. Usually on a mature tree, you will have to graft onto the smaller outer branches in order to match the diameter of the scions. Because of this, only the outer canopy becomes the new variety and the fruiting wood moves up each year. These high grafted branches can easily be accidentally trimmed off if not careful.
If a tree is topworked with multiple varieties, it becomes difficult to tell what variety of fruit or scions you harvest off the tree. I know I have received several miss identified scions that were harvested from multigraft trees and we are now extremely paranoid about getting properly identified varieties.
When I do volunteer work for my elderly friends, I often top large trees to 24-32 inches and either bark graft or wait till new branches form from below the cut and graft a few of the new branches, usually in Spring.
With top worked trees, you also have to worry about rootstock branches coming up.
Simon