I have one of those and LOVE it. My wife got it for me for Christmas year before last. It's great for cutting strips of fabric. The thing I like about it that's different from just a simple template ruler is that it has grabbies on the bottom of it to keep it steady. I use it all the time.

P.S. Mine uses regular 45cm rotary cutter blades. The brand is Fiskars.

I have one also and am using it and my cutting mat for cutting the squares for the I Spy quilts I am making. Love it! I had forgot about it and found it when I moved and was glad I did.