Is it worth the time or effort?
I've had mixed results with it using Demigod. There's currently no in game integration. By that, I mean that you can't just get a few people to join your ready to play session and then BOOM, you are all in the same DG lobby. It does make suggestions on who you'd like playing with and tracks your friends well enough within impulse. Also, its still in beta, so who knows what they might add to the final.
But - is it worth the time or effort? Yes. Especially considering it will really take you less and 2 minutes to get it up and running.