It works, and definitely better than other tries, but it's not even close to Sublime Text's caliber. Through no fault of the author, I assure you, as someone who's tried his hand at creating a similar plugin for vim and found many limitations of vim.
One easy limitation comes to mind - you can't copy-paste different cursors, then paste them as unique items. E.g., given a list "a, b, c", I want to be able to multi-cursor the letters, copy them, then paste them into 3 multi-cursors somewhere else. Hard, very hard to implement.