The ACCORD study showed that people with Type2 who take metformin tend to live longer regardless of their A1C level. Metformin also seems to over the long term lower A1C by between 10 to 20 for many people.
Firstly let's remember from "low carb 101" that high insulin levels stop us burning fat including liver fat.
Metformin works by reducing the insulin resistance of our body a little, this results in both a small reduct in BG, as well as a reduction in blood insulin levels. This reduction in insulin level often results in people losing a bit more fat then they would have otherwise. This loss of fat results in yet more reduction in insulin resistance.
Metformin also reduces the "liver dumps", hence it still gives me benefits, as my A1C is now normal, but my fasting BG is a little high. Metformin has also been shown in recent research to reduce the risk of cancer, but how much of a reduction is not yet know.
I am happy to take Metformin for life, as I don't get the side effects, if I start to get the side effects, I will clearly change my mind! However, I am also committed to remaining low carb for life, as low carb clearly gives me more benefit then Metformin.
There has been no research in how well Metformin works when combined with low carb diets, but some of the leading low carb experts are positive on Metformin, and at least one of them takes Metformin for his Type2. (Its a bit confusing, as in the USA Metformin is seen as a drug to prevent Type2, not just for people with Type2.)