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I use the E-Bow for quite some years, mainly for studio overdubs. this is useful for creating original sounds and layers (coupled with a bottleneck and a reverb for example) that sound as different synth sounds. the harmonic mode is fine, I use mainly.

I used it live but it is not practical to move the pick to the Ebow, because it must be viewed to have exactly the same sound, especially that the string vibrates a lot, which brings a significant increase in output level.

It takes some time before to know the place and use it seamlessly. I think it works better with humbuckers.

it's still a bit expensive for what it is. live, I think a fernandes sustainer is more suitable, but it means a big change on a guitar. E bow is more flexible on this point and allows use on different guitars. Note that it is very nice on an acoustic.