Fine, I haven't actually done anything interesting with it yet, but look! It makes the pixels act like fabric!
I used this video tutorial on Blender Cookie and it was actually pretty EASY! (Did I just call something in Blender easy? This may mean that something very bad has happened to my brain..)
This is way better than sliced bread. Sliced bread is all well and good for sandwiches, but pixels that behave like fabric are just amazing. And this is just the still picture of the applied effect!
*does happy dance*