The embedded name of the note seems to be the only thing this has going for it, and only in high-quality prints. I feel like the stems help me to distinguish where notes start and end, and the sharps and flats seem a little... small.
Also, properly typeset standard notation is proportional anyway.
Additionally beam groups convey a huge amount of information-- there's a reason, for example, that 6/8 is typically beamed in 2 groups of 3, whereas 3/4 is grouped in 3 groups of 2. Understanding the micro- and macro-pulse relationship make sight-reading much easier, in addition to subtly informing performance.
Also, properly typeset standard notation is proportional anyway.