I heard a lot of great things about it. So, I went and used my char points to get it and I'm disappointed. I thought it would be something involving combat, like a Baldur's Gate high level mage spell or something.
But it just takes you wherever you want in Arcanum. What's so good about that?? Traveling by foot would net me a ton of experience pts. while giving me easy battles, so why not do that instead?
The Thing(PS2) is better than Resident Evil: Code Veronica and RE 1 Shadow of The Colossus is better than Tomb Raider. ICO is better than Kingdom Hearts
Well, encounters start to get annoying later in the game, especially when you get to level 50 (unless you're using a level cap remover). And it's convenient that you don't have to leave the city limits in order to travel, which can be annoying in big cities like Tarant and Caladon. Another good use for it is that you can visit places on the other side of the mountains much earlier before finding about the pass (if you get Teleport relatively early). And you also can use it to get to Thanatos without the need to buy or acquire a ship by other means. It's not a must have spell, but it's really fun to have, and saves time.
Immune to criticals, criticism, negative board level, etc.