I've only used it to fade out iTunes, so cannot comment on the other features, but it does that very well. The "Street Spirit Fade Out" iTunes script from Doug Adams only works about 70% of the time for me, so this is a nice alternative.

I emailed the developer with the only thing that I could think of to improve this: the option to make a longer duration fade out, as the existing one fades out over 5 seconds or so. It would be nice to have a two minute fade out so as not to be as noticeable while falling asleep.