But there is still a possibility of getting a loading screen after your shout lands. Then its not really a decent replacement anymore, its just like fast travel.
I hope I'm describing this right, I'm not 100% sure on how this works. Well, none of us are, but still.
If you have to have a loading screen where you land, then where you landed wasn't loaded - and if it wasn't loaded, then your shout couldn't land there, because there was nothing for it to hit.