My understanding is that they have the same access to award inventory as everyone else, however they do know the ins and outs of award redemption ... special offers, partnerships, etc.
They probably aren't the service of choice for the median FTer who enjoys the challenge of coordinating award travel.
But busy business traveler who flies alot, accumulates lots of points, and just wants to use them without figuring out all the ins and outs of award charts, stopover rules, etc. may find this the perfect service.
For that matter there's an upcoming trip that I was thinking of asking for their help with -- involving two premium class int'l award tickets, two different award hotel stays, and some paid travel on top. I've also been thinking of asking them to help with another trip... trying them find a use for some Continental miles, where I just don't have the patience to check tons of destinations over several months.
I've heard some good reviews of the service, and some folks who couldn't get a reward (though I sure doubt they'd have done better on their own). A search or 'awardplanner' will yield several results.
I also bet that anyone who feels they received poor customer service will find a very interested ear in Randy...