Looks like a great plugin, Can it accomplish this?

So far, from what i can tell this plugin looks like a great solution for membership solutions on WordPress sites. Also, to sweeten the deal, I am surprised such a solution comes free. This is truly astounding.

I am interested in how the plugin works though. Before i download and install the plugin I am looking to grasp a knowledge of its capabilities to ensure I have found the right solution.

What i am looking to have is a custom user role which I will refer to as ‘Premium_Member’. The functionality I am looking for PMPro to accomplish is for when the user subscribes / purchases a membership, their user role to be changed to ‘Premium_Member’, or for that matter any other user role I specify. Also, can it be configured to once a membership expires, to revert a user back to their original role, or to any other role that I specify?

If that is indeed how this plugin works, and I have overlooked some clear documentation on this matter then please excuse my ignorance and oversight. Otherwise I would appreciate any reply as to the way this plugin accomplishes and handles its members and their permissions etc.

Thank you to anyone who takes the time to respond.

http://wordpress.org/extend/plugins/paid-memberships-pro/

*Edited for spelling and additions.