It's very easy to use, it has all features that I need for my website (and more).
Also there is an option of using API key which makes this product even better! Sometimes you may get some problems with DNS resolution when your IP address changes - but not too often so far as i know about node ping now; There are no downsides at least in comparison if other products like Pingdom or Google Webmaster Tools etc., In fact they have many useful tools compared to others out here ;-) But still sometimes one needs manual intervention from time-to-time because these services don't always work well enough by themselves without human assistance once again due their nature ;) So overall its great service :) Monitoring uptime/availability issues via HTTP status codes / response times helps me keep track where things go wrong most frequently during development process :D.