I've fished it side by side with punchbait and catch just as many fish with it as the punchbait. I'm not going to say it works better than punchbait but ...more it just doesn't stink. And you can roll it around in your hand like playdough and you don't smell like death when your done.
If you like catfishing you have to check out Bradley's Catfish Bubblegum. Stuff is pretty neat. It doesn't stink but works, like it's magic or something.