WordPress.org

Can I assign widget areas to locations other than the sidebars?

No. You can only assign them to the primary and secondary sidebars, using the plugin.

However, once a widget area has been created, you can use hooks to programmatically display those widget areas throughout the theme. But if you're going to do that, it's very unlikely that you would want to use the plugin to create the widget areas. You might as well just create the widget areas programmatically too.

Does this plugin give me the option of creating an entirely NEW sidebar?

Not in the way you're probably thinking. The markup surrounding the widget area never changes. The only thing that changes is the dynamic content that displays within the pre-existing sidebar locations.