Does this really solve the whole problem? I've seen BIOSes (even on reasonably recent machines) which were unable to boot from an USB key, but I'm not sure that they would all have been able to boot from an USB optical drive either.
That's not the problem it's trying to solve. AFAICT, if you can't boot from USB, you're still out of luck.
Here's a hilarious list of common problems in USB sticks: http://www2.one-eyed-alien.net/~mdharm/linux-usb/target_offe...