And it works very well in my game. It's saved my nether regions a time or three . . .
I never attempt the Temple of the Snake until I'm fairly sure I can take the gold dragon out. After I've killed it, I have great fun mephistoing the carcass until I get something really useful – like Guinevere or Morgan. This last game, in the process of doing that, I was presented with three bows, 1 of the Dragon, 1 of Darkness, and 1 of Carnage.
Also, in my most recent game, I didn't try tackling the Lair of the Wolf until I had GM in Dark with 10+ skill points and Shrapmetal to go with it. Ever so much easier! With that and the three bows, the host of wolfkin around the leader didn't last all that long; a fair number didn't get anywhere near me.