I did a few quick routes in Indianapolis and Reno (lived there last year).
In Reno it's not very good. It doesn't seem to show that any streets have bike lanes. It seems to want to do anything to keep me off of McCarran, which actually has a bike lane all the way around the city. The "avoid highways" option seems more useful in Reno, where there aren't many MUP-type routes to use. Reno is a fairly small city, so maybe they didn't spend much time on it.
In Indianapolis it seems like they spent more time on the map. I take it that the green-dotted roads are roads they consider to be bike friendly? I disagree with some of their choices. Directions seem overly complicated. You get tons of turns when there are some decent streets that give you a much more simple route. Again, "avoid highways" and a little route dragging works better for me here. From what I can tell the only advantage to the "bike" option is that the Monon Trail and other MUPs can be included in your route.
So, if your city has lots of MUPs I think this could be a pretty neat deal. Personally, I'd prefer cities that had more bike lanes. In that case, just use "avoid highways" and drag your route a little when it takes you on an especially hairy road.