instructor--a funny, lovely person who reacted with good humor to my declaration that I'd been web-stalking her--said it would produce socks faster. She's right, of course. At the glacial pace I knit at, it'd take me eons in sock weight at this point.
The top edge is a little loose and loopy--I'm a total beginner who still has trouble handling the needles smoothly, and it took me a few rows to get ahold of myself--but otherwise things are going pretty well.
The Magic Loop technique is weird and counterintuitive for about 10 minutes, and then it starts to make a ton of sense. All you have to remember is what the work looks like at the beginning of a round vs. at the middle, so that you make sure you don't knit back and forth on the same half forever.