It's a good tool to start with, but personally, I rarely use mine, only if I'm doing something very "freestyle" where I'm doing a new design by eye.
Otherwise, personally, it's pretty easy to just eyeball.
Keep in mind, that your spring, if you don't have a rear spring hole drilled in your liner already, can function exactly the same, and honestly more accurately (it just doesn't give you a "number" representation), since you're indexed off your front spring pin anyway. Use a pencil to mark on the liner where the spring is at at one position, using your thumb to put upward pressure on the spring (with the pivot temp pin and temp front spring pin in), move to another position, and mark the spring position again with a pencil, pull everything off the liner, and look where you're at.
Get it close, then you need to set pre-load, and drill your rear spring pin, and do the final adjustment with all 3 pins.
Either way, you're still grinding that "however many thou" off by feel. If you're a very data driven person, it may be more productive to have a number to represent how far you gotta go, but, for me, setting up with the rise-fall-jig is just extra time and tedium. You still have to dial the last bit in by hand, and if you don't adjust the jig properly to exactly fit your liner, not just your pin holes in the tang/spring, it'll be wrong when you go to the actual knife assembly, versus the jig.
Once you add preload and tension, it changes everything, and you can't accurately simulate that with the jig. Even if you could, it'd be more time consuming for no gain, than just doing with the knife.
I think it probably all depends on your methods, but for me, it adds more time, instead of saving time.