I've seen a
lot of cowboy coders get projects done. (I've probably been one for a good deal of my career.) Can you say that with a straight face about adherents of more rigorous development methodologies?
The real problem with cowboy coding is getting to version 2 (or maybe 1.1). But it should be stated that at least if you've got a successful version 1 you have most of a solid design to start with.
Interestingly, most development methodologies seem to be mainly concerned with getting to version 1 and not with producing a maintainable product or getting a successful but unmaintainable version 1 and evolving it into a maintainable version 3 (say).
The obvious exception is the Software Process Maturity Model or whatever the frack it's called today, which is enormously concerned with maintainability to the point of making initial development (or indeed almost anything outside of pure engineering environments) virtually impossible.