It certainly gives you a search over multiple WordPress sites and is probably the easiest way to do this, but it's missing some key features such as controlling which sites it searches (the default is all), pagination of results and customising the search form and search results.
In excerpt mode it also doesn't strip HTML out, so you can end up with an opening of an HTML tag in your search results, but if the close if not part of the excerpt your search results screw up.
All of this means that whilst there's the potential to have a truly great plugin here (and boy do we NEED a good solution for multisite search - it's appalling that it doesn't exist as part of the core WordPress if you ask me), at the minute it's not quite there.
However if you can put up with its flaws, or are prepared to do some hacking of the plugin code, this could be idea for you.
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