It doesn't require use of large temporary files like pxz, and the xz files it produces can also be decompressed in parallel.
Can I suggest adding installation packages for: brew ubuntu (at least through launchpad)
The only thing I wish for is more documentation and inclusion in xz-utils (which I know is not up to you, but I'm hopeful).
The author of xz is working on a parallel compression implementation of his own, which will hopefully be in future versions of xz.
Why not use parallelized versions of xz such as pxz or pixz? Because pre-built pxz/pixz packages are nearly non-existent. When that changes, I'll consider switching formats.
Also, note that decompressing bzip2 is very slow, xz usually beats it by a factor of two or more.
The fact remains, however, that I can't seem to find a simple way to install a parallelized version of xz. Perhaps I'll post an issue in the Github issue tracker for pixz and see if we can't resolve that. :)
Edit: And in this case, bz2 even gave better compression ratios if I recall correctly.