Actually, aside from a fire bow, this is my least favorite method. It's great if you have a flame and want to keep it going for a while, but not so easy to simply drop a spark on it and have it go - the char cloth is the best method for me, then if it's wet out and I need a bit more staying power on that flame then the petroleum jelly cotton balls are a welcome sight.
I have an ESEE fire kit that has a misch rod-just messing around the other day with it and 1 spark lighting with cotton/pj balls.I like them because once lit they give you a good enough burn time to get your tinder going and build from there.JMHO
Don't pick a fight with an old man. If he is too old to Fight, he'll just kill you.