Hmm I would be skeptical paint varies so much in type and condition I dont know how well a remover would work, unless it was incredibly volitile.
A good wet sanding would be what I do, or maybe paint over it with use of a primer and a rough sanding to get rid of those chips you talked about.
If its cheap tho, wont hurt to buy it and try it and out let us know first hand how well it worked for you.
I used "rattle can" paint all the time on my 92 Camaro RS because it was so low to the groud it scraped the paint off the ground effects somtimes I think it was Duplicolor I used and it was just as nice as the factory paint.