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IMO, it works very well. We had girls come to our IWT's that told sisters "I want XYZ, I know a lot of people in it, so that's where I'm going." They came back to the next round after getting cut by XYZ and were in shock.
I think it works better because girls don't make it all the way to skit (or even pref!) and then not get a bid to the chapter they wanted, so they have to decline bids or accept bids they didn't totally want. I can say from this year that it really does help pnm's find a place that fits them better than where they thought they would.
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