I'm the creator of visionary[0], a deterministic password generator that the article links to. When I thought of the idea (quite a while ago), I thought it was a good idea, and I thought I was the first one there. I was wrong on both accounts.
The points that the article makes are right, and people should use conventional passwords over deterministic ones.
But I guess it appeals to a certain small subset of people. For some servers and things that I own I find myself using it sometimes: it turns a relatively strong password into a monster of a password.
Another useful use is that it's good at sharing passwords for things with friends, and for that, it's surprisingly handy.
For the average person however, the disadvantages and the things that could go wrong outweigh the advantages. Keepass is what you should be using.