It is something that will fill a niche and that is always good. I'm still hoping this wasn't the killer feature that has been overhyped by Ghostcrawler & Co though as it is nothing more than an extra difficulty level rather than more content and stuff to do.
The one thing I forsee that could be really bad though is that raiders will simply not bother with LFR once they have the option of an easier raid that they don't have to suffer the fools found in a random pug.
This could however be the saviour of server communities and pug raids formed there. The pug raids from Wrath were often so much fun and a place I picked up many non-guildie friends.
Good post, this is essential to getting through some of the trickier pulls in CMs
@lilitharien you won't if you're smiting mostly as smite costs bugger all mana and heals the most needy for more than heals worth in flash heal time.