The first time I used the knitted lace bind off was for the Live Oak Shawlette I made last year(?). I found that it creates a lovely finished and stretchy edge (which is very easy to crochet into, by the way). I've not tried Jeny's bind off, so I can't compare the two.
This has become one of my favorite bind offs; however, do take note that it requires more yarn than a regular old bind off. Perhaps that's true of a lot of the more complicated bind offs (I don't know since I only use this one or a regular bind off most of the time).
Personally, I think it looks easier to do than Jeny's.