I'll tell you what it's good for, spill kill, edge removal and blur.
Currently I'm working on two music videos that are mostly shot on bluescreen. For chroma keying I'm actually using the secondary colour corrector. It seems to be more accurate than the Sony chroma keyer or New Blue chroma key. Once I've set my colour on there I use the alpha key slider to remove the background. So my effects chain looks like this:
Neat Video (removes noise for a cleaner key) --> Secondary Colour Corrector (for keying out background) --> Colour Corrector (or New Blue colour fixer) --> Levels --> New Blue Chroma Key (spill remove, edge cleaner + edge blur)
Why I colour correct the footage before the New Blue plugin, is because doing so after going through that plugin can make a mess of things.
I have not tried Glenn's approach, looks very interesting, indeed. And I agree - experiment! NewBlue has a trial version, so you can find out yourself. In my opinion, the Color Corrector (Secondary) can do magic on its own. Myself I use the Chroma Blur before the
Color Corrector (Secondary) , this possibly gives the same effect as the NeatVideo Glenn uses.
The blessing of working with 32 bit floating point precision is that you can pre-process your footage into submission before even touching your keyer. For example: Curves, Color Lab, Chroma Blur, THEN either Chroma Key or Secondary Color Corrector, and you are guaranteed punchy colors that are easier to key. Be sure to set your project to 32 bit color processing before you start though!
This might seem like it's time consuming, but it's really not; An ounce of prevention is worth a week of making less than $15/hour when your client asks for a gratis revision :)