Yes, it just does the tedious donkey work.

Rigging is more art than science, it will always take a human touch to set any form of jointing values for a 3D figure model. Weight mapping is not magically better than any existing method. It does however offer other options previously not available.

There is also nothing that magical in the script either.

http://www.philc.net/forum/viewtopic.php?p=17943

You'll need the Pro version and the update when available so take it at face value and subject to change.