I'm (finally) getting around to adding this and looking it over right now.
It seems like this method is fairly limited in the sense that it can only do boot images, and you have to manually replace the boot.img with the right kernel each time you flash. Doing it via the fastboot method I recommend in the OP gives you a lot more flexibility because you can flash just about anything through it (kernels, recoveries, ect).
I'm just thinking for the amount of effort required fastboot flashing would still be the preferred method. Especially if you are already doing it from the computer.