Far too bondagey mate.I had it for years and tried this (alongside all of the other suggestions i.e. lose weight, roll tennis ball under foot etc)
Plantar Fasciitis Sock (physioroom.com)
Wearing it drove me mad for the first few nights, but after much perseverance it helped. Keeps the foot stretched whilst you sleep, so you avoid the painful getting out of bed in the morning stage.
A mate used to use a one of them glass coke bottles, said the shape and the ridges on it was prefect