This is a great tremolo arm. It's a good sized Bigsby for my Les Paul, unlike some of the other Bigsby models. I've seen them used on Gibson guitars mostly, especially hollow bodies and customized Les Pauls. I think that this tremolo system is pretty fantastic for many reasons. Primarily, it has far more functionality than the standard bridge tremolo arms that come with Stratocasters and the like. It also keeps a guitar in tune when using the tremolo arm, far better than the Fender counterparts do. Where it gets tricky is when you compare the Bigsby to some other, newer models like the Floyd Rose. My biggest beef with those Tremolo systems is that they require an absurd amount of maintenance. If you are good at keeping up with this maintenance, they are possibly worth it. This is, of course, assuming that your guitar is realistically compatible with the Floyd Rose. The latter issue has always been a problem for me, and since I'm also not very good at maintaining a Floyd Rose system regularly, it never stays in tune for me. Thus I tend to prefer the Bigsby.
This tremolo arm has been tried and loved by many great players, including Neil Young, who uses it on his trademark Black Les Paul. I think that may be part of the reason I was drawn to it in the first place, as I am a huge fan of his. I think that it is great in the fact that you can get some great tremolo/vibrato effects with this arm, but are not able to do the cliche "dive-bomb" techniques that some (admittedly great) players use. Considering that those things have been done to death in 2010, I don't miss dive-bombs very much. I just need a basic vibrato to match my left-hand natural vibrato. I think the Bigsby is the best option for that. Make sure, though, that your guitar is compatible, otherwise it can create problems.