Hi Atlantis yes it probably is one of the best tools .
converting from many formats to .x i mainly use
to convert fbx characters into GG. animations are fine,
you can use it to merge animations into one animation
easy 1 click,then view animations to get the frames needed
for fpe files and so forth. also you can assign material to the models.
delete bone structure or unwanted bones. you can also save the animations from GG
characters for use on your own models if they are rigged , you can also change uv layout
remove lod,s ect.
it has many uses and easy to learn.