One thing I have noticed though is that when one enters the same site password, you get the same "Hashed" password back to use. Yes, there is an extra step involved here so that buys you some security but I will be cautious in reusing site passwords.
Imagine an attack where for the top 100 sites in the world, all of the most commonly used passwords are used to generate the "Hashed" (pwdhash) passwords for each site and compile that info into a big list. This can then be added to the candidate list of password that can be tried in cracking leaked hashes.
The take way here is that even though pwdhash gives you domain-specific generated passwords, you will make to sure that you use a different site password as input to pwdhash for each site.