yep, I buy it on sale then freeze it. I find the single wrapped slices that I put in the kid's lunches do fine. I have had block cheddar break apart on me.
Usually the cheese that I put in the freezer is the shredded kind that you can buy cheap in bulk at Sam's Club and similar places.
I freeze grated and slices. Both seem to defrost just fine. The block cheese does seem to crumble sometimes after it's been frozen.
I had a Aunt that got the surplus cheese from the USDA and she always froze it because they gave out about 10 pounds of cheese and you had to freeze it. lt came out no worse for the wear although I'm sure a cheesosir would disagree.