Yes, Berjaya Air still flies there, the problem is that the sole flight is around midday, so you get less than 24 hours actually on the island if you leave Sat and return Sun. But if you can stretch out to a 3-day weekend, it's a good option.

Getting to Tioman by land is a bit of a hassle, as you'll need to cross the border via the terminally congested Causeway in JB and transfer to a ferry at Mersing. This is closer to 4 hours than 2 in my book, which means the flight may actually work out faster. The ferries also don't run at night, so you'll probably want to make your way to Mersing on Fri, overnight there, and catch a morning ferry.