I am using it on one blog to test it. There is not really any documentation. When a sponsor has 10 feeds on 1 day they will all be fetched in one cronjob run. No matter what your cronjob is like. Also the rewrite option doesn't work for me. I even had to change some code because in WP 2.3 some files are on a different location or have different names. I think it could be a great plugin but it needs some finetuning( it's still a RC version ) and a lot of documentation.
Good luck with it and keep an eye on the developers homepage.
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