It works well. I made my own door strike and bolt jigs. I use a short CMT 1/4" shank 1/2" diameter mortising bit I get from Tom, I'm sure he can get you the number. I double stack the bearings, so you'll need an extra (good to keep spare bearings in stock also). No guide bushing need for these.
If you need to use a guide bushing, you can screw the guide bushings directly into the base, no fumbling with the nut.
Due to the length of my guide bushings it will not work with my Bosch hinge jig (found this out the hard way). Once I get a longer bushing it will work just fine. It works just fine with the single leaf jigs I made for 3.5 and 4" hinges.
Tom