(I have a feeling that the people who would answer "yes" to this, including me, are the ones who do a lot of these bonuses, and the ones who would say "no" have never done it or maybe had one bad experience.)
If you are a financially organized person (have you ever been late with a credit card payment? have you been charged a bank fee that you weren't expecting? do you roughly know the balances on your bank accounts and your credit cards?), then go for it!
The Chase checking bonus you're considering was my 12th (and highest $) one this year. At this point, an additional account opening is just another row on my spreadsheet, where I put info such as reward amount, how to avoid fees, any deadlines, etc. So definitely worth the time for me.
Just to clarify, if you are opening the "Total Checking" account, it would be easier to do 1 direct deposit, and then leave $1500 in the account to waive the monthly fee.