I use it on the vg278he monitor. Definitely an improvement without it. Much more sharper and crisp image but colors do take a hit and there is very little input lag. This monitor is smooth without it but for games like quake it helps a ton. Youre just able to see and track much better which increases your reaction time.
I hear there are 1ms monitors like the benq and latest asus qe version which look even sharper.
As far as getting it to work without the emitter. It's not that hard to configure. This trick will change how lcd monitors are viewed compared to crt. I think they are finally coming close to crt quality.