I suppose I favor it because near perfect wood for mouldings isn't too common here, at least in the burbs, and the number of people milling wood reasonably here isn't like it is out your way.
The setup that follansbee has as you describe it might be easier to use. The ulmia plane has to have the mouth loosened, slid forward and then the iron coming out isn't that friendly, taken apart and then everything reversed. since the whole setup is wood, it doesn't go back precisely (as in, you might be able to take a few thousandths shavings but then after reset, not be able to do it without fiddling the front sole). Fortunately, it will go for a long time between sharpening sessions if you use something else to hog.
I usually follow a "normal" rabbet plane with it, just as an issue of cleaning up.I wish I could say I had a single piece of 8 foot long clear 8/4 cherry in my shop, but I don't. If I was tasked with making things for other people, I'd have to solve this problem.