I use it quite regularly for such things as recovering data from a hosed, non booting system prior to reimaging, removing virus/malware, imaging drives, pulling Plug and Play hardware ID's when looking for drivers, etc.
Something to keep in mind though is that you can only use the tool on non encrypted drives, and, both UBCD and UBCD4Win are no longer maintained, the last update to UBCD4Win was 4 years ago.