You guys are right on the mark with that tool!  

Tripper showed me his a couple years ago &, after watching him in action, I just had to have it.  Just as dd says, I often keep mine on a lanyard as it can easily get away from you.  An alternative is to twist the attached cord around your wrist; that approach seems to work well for me, too.  Besides, I prefer to keep the lanyard on my more expensive GPS.  Either one of those items is a goner if dropped.

I find the Bogagrip tool is easy to pack & does a good job of immobilizing & keeping "big toothy" away from fingers while I work with the needle nose pliers.  It has served me well in safely landing & releasing 20+ pound Northerns & Lake Trout.  It often allows you to release the fish quicker than you can with a net (due to hook, fin, & gill tangles).

I highly recommend its use & never bother with a net anymore, myself.

Jimbo   8)