Pretty Flexible - A Decided Value
I tried this based on some advice from my Sweetwater representative as I needed something along these lines. I have been able to make this work with small condensors, omni's, and even LDC's in an M-S, though I have not yet attempted a Blumlein arrangement.
One thing I would suggest about using this is to 'think'. That is, because the bar is not round, which is actually a very good thing, you have options as to the orientation (rotation) of each, as well as its translation (distance along the bar). Basically, this allows you to rotate the two stand-offs as required - and this sort of thing is indeed sometimes required if you are trying to align your mics in a specific fashion and are bound by constraints of the mics themselves - this is how I ended up finding a solution for the M-S arrangement with LDC's.
If I have one gripe it is that the locking screws on the back of each of the two units are small, making it difficult to get them really tight. However, this is really only an issue when using large, heavy LDC's and is not insurmountable...but like I said, you have to be willing to work to find a solution (and remember to secure them once your mics are set).
On the other hand, setting up an XY, ORTF or similar with small condensors really could not be any simpler.
Keep in mind that they make a slightly longer version of this (the bar itself is longer - I think the rest is identical) and if you are trying to use this with LDC's that would probably make life a little easier for you, but again, overall, I like the simplicity as well as flexibility - and best of all, it is inexpensive.