this works like a charm. As a rogue i do this untill i think i might be out of combat, teleport back and then re stealth. Many of times have i popped into a group of 5+ horde, ganked one then lagged off with all of them folowing me only to popback and re stealth and rinse and repeat.
As a mage you can do this to get a significant amount of range between you and your target to nuke them.
Almost every class can get benefit out of this. It almost works too good.
Also i have found that if you press the macro too fast (too many times per seccond) it WILL disconnect you. If you find just the right speed to click it it will let you go for a VERY long time before you get disconnected (i usualy do about 2 times per seccond)