It's fine as a final coating for the interiors of aircraft & electronics cases. It's not OK for surfaces exposed to weather, handling, any abrasion, most liquids, high temperatures, etc. So depends on the application. A general answer is that topcoating with paint is required for exterior surfaces.
If you haven't already done so, read
MIL-DTL-5541F CHEMICAL CONVERSION COATINGS ON ALUMINUM AND ALUMINUM ALLOYS
Now, for the serious study:
Non-Chromate Aluminum Pretreatments (NCAP) Report (August 2003) gives salt spray test results for Alodine 1200S® and selected non-hexavalent chromium alternatives on several Al alloys in section 5. Compare the number of hours of testing for these samples (24, 48, 168, 336 hours) with the testing periods (e.g., 500, 1000, 3000 hours, 4, 8 & 12 month) for the painted samples in the bulk of the report. Note also that most painted samples were scribed (X-scratched per ASTM D1654) prior to testing.
Generally, for best resistance to multiple types of corrosion, Alodine 1200S® & the trivalent TCP pretreatments, coated with Mil-PRF-23377 Primer and Mil-C-85285 Topcoat give best results.