I used one at my previous house. As I remember, it worked well, but its really just trial-and-error. As for power consumption, it only uses 1.4 watts at full brightness, and that is per circuit, NOT per light, since one should work for many lights. Lets say you had 5 LED bulbs on a circuit, they might draw 50 watts total, so we are talking 1.4 extra watts max. By the way, UPB switches themselves draw at least 3 watts each, and that is 24 hours a day, so hopefully you are not using them if another 1.4 watts bother you.
I just bought some Zigbee switches and they do not require a neutral, BUT they require that the bulbs draw more than 12W for them to work. If not they provide a few watt resistor labeled an "LED Adapter." When you get some advantages, like no neutral, there is always some overhead.
I used to work analyzing LED bulbs (don't anymore) but they are designed to be CHEAP and not infringe on patents, at least non-Chinese bulbs worry about the latter. Its amazing how many different ways you can design a circuit, so no way any dimmer could work well with every LED bulb. I've always liked those filament type LED bulbs because their power supply is really simple and they seem to flicker less, but that's just me.