Hi Dave
I think the plugin developers themselves did a thread about this just the other day ! The general consensus there was that yes, this is better than the default boole tools because it sets up bevels for you right away. But as you say, it is based on the original boole tool, and therefore is unsuitable for use with subdivision. Personally I wouldn't pay $50 for a boolean plugin unless it did work with subdiv, and created sensible all-quad topology like Max's ProBoolean. The developer says they are working on this, despite it being a furiously difficult thing to achieve apparently :)
My own instinct is that this is OK for small-scale nernie action (ie you only need a little bit of that), but you wouldn't want to be doing too many of these in a single scene before the limitations of booles catch up with you and your scene slows to a crawl while it tries to live-calculate all the booles in the scene. I think that would make it impractical if you were greebling a Star Destroyer for example...
There are a great many tools out there for greebling, not least of them the extrudifier in MAXON labs, PolyGnome, being developed by cafe member @C4DS, and this incredible JS generator for making instant 8K displacement maps. Speaking as someone who values quality topology, I would have to say that all these are preferable to doing nernies with boole-based methodology, but it can't hurt to also have that method in your list of go-to options for when topology doesn't matter...
CBR