Absolutely love this for my snare, definitely prefer it to moongels or tape. It provides the perfect amount of dampening of overtones without muffling the snare too much. Gives you a great clean sound, really easy to mic or record, as well as a less ringy noise in smaller venues. It's also great as a quick fix for terrible-sounding rehearsal space snares.
Apart from the change in sound, you don't notice it's there at all. I've had some problems with moongel flopping around or coming loose, but this ring just sits flat on your head and stays there. I also prefer the clean look of a transparent ring.