My roommate bought it a few weeks ago (he's an experienced guitarist) and it's definitely a great idea. We have an HDMI cable (which makes for terrible latency), but it's supposedly very easy to fix, we just haven't gotten around to it. I can see how it would be very useful for pretty much any skill level.
"You have your way. I have my way. As for the correct way and the only way, it does not exist."