I use the Niner biocentric bottom bracket. It's the same concept and works well. It has enough adjustability to go multiple teeth change on either cog or chainring. I much prefer it over spring loaded tensioner. The only cons are that it isn't the quietest, and with the adjustment of the bottom bracket you change your effective saddle height and fore-aft. However, for me pulling the bottom bracket to clean and reinstall is a 15-20 minute job and it's silent for another month or until I ride in a heavy rain. And with horizontal dropouts, you have to adjust the brakes after gear change rather than the saddle/seatpost.

I'd only say it's a deal breaker if you're very particular with your bike fit. I don't mind having to move the seat post up and down. I have it marked for my two favorite gear combos. And I don't even bother with changing fore-aft as it doesn't bother me. If you can live with that, go for it. I think it opens up a lot of cool frames to singlespeed.