I tried the other popular Custom Post Template plugin but had to go through various loops to create a custom template for posts. I wanted a full width template for my Twenty Twelve theme.
With 20-12 there's already a full width template and I don't need to re-create it and then copy it to another directory. Well I tried that and thought there must be an easier way.
And I found this plugin. Easy as pie. It just add the page templates to posts. You just need to go to Settings and activate where you want it. I did not do this initially as I thought I will see the options while creating a post.
Now that I have set the settings it shows for each post and I can choose a template. Love it. Just did what I wanted with no loops.
Thanks buddy. You did a great job.