I run this utility, and consider it an asset. Like others, my normal procedure is to exit the game UNSAVED after hearing a ding. Then why run it?
- My installation is fairly stable. The only "crashes" I normally encounter are random "black-screens" when the Oblivion.exe "stops responding". As another contributor mentioned, I can go over a week of sometimes long play-sessions without experiencing a "black-screen". Then when they occur I tend to get a series of them. Things then settle down and I can go for another long period without crashing. Best I can tell these black-screens are due to the game running out of resources rather than being mod-related. That's what I like about having this mod installed. On those rare occasions when I hear its DING, I know that my issue is NOT one of my "normal" stoppages but some fault of the game, either its engine or mod-generated. In other words, it lets me know that I might have something to investigate (though as Arthmoor points out most DINGs are engine related and beyond our control).
- On ONE occasion I let myself play through a DING. This occurred when trying to approach a Daedric Shrine, the one near Imperial Bridge Inn (Peryite???). I needed to go there for a quest contact, and planned to do the shrine quest at the same time. Only, every single time I neared the shrine I heard a DING. I totally exited the game between loads, and one ever rebooted the computer. After five tries I decided to play through the DING and see what happened. In this case all went well. Whatever caused the DING didn't seem to corrupt the game or my saves. (I make tons of unique saves, four DVDs worth in the past three-plus months!, so could have recovered in need-be.) I really needed that quest update (from Kragenir, if memory serves). So in this case it was a potential lesser-of-evils. I didn't like playing through the DING, but didn't see any other way to keep going.
-Decrepit-
After reading this thread - and even reading your post - I still wonder why one would run an utility that saves you from crashing and loosing your progress from last save, and THEN "kill" the game without saving when it actually does its job?

Not much point in running it then - beyond maybe the option to "see" what was behind the "ding". But I doubt that really is something you can simply see and realise.
I perfectly understand when people say it′s a band-aid - I decided not to use it myself for my new installation, cause I want to investigate every cause of crash and have a stable game. But as there ARE inevitable, uncurable CTDs present in some people′s games, I can also perfectly understand why someone would use it instead of simply suffering from the CTDs. There′s good evidence people can have a hell of a time playing the game, thanks to this utility, without any consequences.
There seems to be crashes with the engine that "shouldn′t" crash the game - it seems these are ok to "patch", it doesn′t make a difference - the problem is how can one be sure when he′s game is NOT crashing for a good reason, that CAN and SHOULD be investigated and properly fixed?