This is one of the best plugins I have ever used, and I put it on all my sites. It is hard enough to build quality content with link variation, however when those links disappear it is worse than having no link at all if your visitors are sent to a deadend!!
Here is an example of one of my sites where I have used this plugin extensively. With art being an ever changing industry, it was important for a site on chalk ink that the links are always valid and the site is operating properly. Highly recommended A+++