[Patchmaster]

You can use PT at many different levels. At the most basic, it can automatically record your results and keep track of them for you. If you're really serious, this alone is probably worth the price. The vast amount of data can be analyzed and used to identify holes in your game. For instance, when I started using PT it was instantly apparent I was being too passive and really needed to work on my play from the blinds. Either of those items was worth several times the price of PT. More in depth analyses are possible using filters and data selection. Or, if you have MS Access, you can use the database directly and do all kinds of interesting queries.

And then we get into analyzing the play of opponents. It's certainly no substitute for closely observing your opponents, but it's a huge help if you're multitabling and simply can't keep track of 30+ players simultaneously. PT can also be a great help in table selection. From using PT I KNOW who has contributed the most to my bankroll and I actively seek out those players. Without PT I'd have some vague notion of who I'd won money from, but I know it wouldn't be completely accurate. Conversely, I know who I've lost the most to and can avoid them if I think they're significantly better players.

The only downfall I can think of is that it doesn't work everywhere. And PT is so useful I tend to not play at places that are not supported or even not supported easily. (One of the big reasons I stopped playing at Absolute was that it was too much of a hassle to use PT.)