That's a great knot, and very strong. I use it for a lot of situations where a clinch knot falls short of ideal. As Stonefish said it's great for maximizing natural-looking movement. It's also good in situations where you have, say, an up-turned hook eye but no room in front of the fly head on the shank to seat a Turle knot (in other words, poor fly design- the only kind I seem to do). It's my go-to knot for twitching jigs, too.

Nice smallies, Stonefish.