Haven't used the wireless version, but the old school wired ones are fantastic for tracking down hard to find noises. Don't need anything other than my ears more often than not, but the tool comes in handy from time to time. No matter which version you have, I suggest familiarizing yourself with all the "normal" noises components can make that you would never otherwise hear without the tool installed.
By the way, there's a real cheap version of a steelman electronic stethoscope that includes one of the clamps from the wired chassis ear version.