The main purpose of this extension is to make a dev's life easy. This extension has been used by several of my devs at RBS and has been proved to increase productivity and reduce the number of painful small queries to write. Their enthusiasm has driven me to post this for the CI fans out there.
Installing the extension (download) is a simple replacement of the old Model.php and the creation of a model file for all of the tables in your application. He recommends checking out the source for some "really handy" bits of functionality.