I couldn't agree more, Lance. I've used Magic Bullet Looks for a while, and yes, for grading, although I don't edit Hollywood level movies. I've been afraid to mention using Looks for color for fear of being attacked by purists. Just kidding....sorta.
For almost a year I used Looks by merely applying the included presets, never experimenting with the myriad of controls that the plugin comes with. Now, with Looks 2 they have added more of the control found in their grading plugin - Colorista.
Steve Brame
creative illusions Productions