Great little tool.
It is very handy and I use it a lot, as I almost always use a MS-setup in addition to close-ups in order to get a true ambience.
In my setups, it is also extremely powerfull to use the 'Sound Delay' Voxengo plugin for the close-up channels and thereby get the MSED output in perfect time/phase sync to these, but that is another story..
MSED just works as it must, and the new "inline" mode is very convenient. Powerful plug-in for mastering, and you can always use it on a track to get some special sound. You saw it in powerful mastering processors, now you can have it on your PC, and even for free!
You can read about the Mid-Side decoding in Bob Katz's "Guide to TC Finalizer" or "Secret mastering" (he also shows some tricks), one can find them free in PDF in the internet.
Voxengo VSTs have become such a critical part of my mixing environment that I will never have a mix on my computer without them!!!
Aboslutely incredible how these VSTs mimic the sonic purity of the greatest analog gear ever invented...
Voxengo VSTs are the answer for any lacking mix. If you are not using these plugins, then you are missing out on the best sounding products available in VST format, bar none!!!