It is completely useless for preservation purposes as the saves are still encrypted.
I made a backup of a friend's game, the game got stolen and now he is SOOL as we can't restore it to his newly bought copy of the same game.
It was in that time frame when only decrypted backups of saves could be made from GW saves with SDF so it's a real shame.
Also they can lock games server side from to prevent backups from exquisite games like Cubic Ninja in the latest version of PowerSaves, so it's really only worth an investment if you really need some specific cheatcodes.
I don't use it anymore as wondercards can be installed now really easily to the save so that's my view on it.
It's still 35€ on gamestop it's laughable.