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I am using it to clear up some domains that google has had a hard time processing for one reason or another. The system already revealed something to me that I think will bring positive results to everything I own, which is a plus.
The downside is that if you own more than one domain, you may be revealing information on relationships between sites that google has not previously sussed out, which may lead to some sort of penalty if you cross link to yourself too much.
Personally, I think that putting up a sitemap may be a sign of willingness to work with Google, and perhaps they may treat sitemapped sites as "somewhat more friendly".
As I said, the jury is still out. I have maybe 10 domains total in their game, and I am watching them closely.
Alex
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