Anyone ever played "Rhode Island" Poker?

[JackOfSpeed]

Going to try it out with some friends tonight. What do you all think? Would it be sensible to play NL?

Everyone is dealt one card, and then there is a round of betting.

The "flop" is only one card, after which betting continues. Next and final round is the river, and the best three card hand wins.

Straights beat Flushes, and three of a kind beats both. Other than that, hand values are the same (no 2 pair, FH, or quads obviously)