It's pretty good and I do it often, though not on a foam roll. What you'll find is that you really end up using it for getting yourself out of acute pain. It's really not going to permanently solve any problems-good program design does though.
Swedish Viking, I am not in acute pain, but have identified areas where I am very tight, and the knots are very apparent now. I would assume that using the foam roller, or tennis ball technique (see DeFranco's videos on Youtube regarding piriformis issues) is similar to Rolfing. Sort of "stripping away" the knots and allowing the muscle/fascia to release.
I need to schedule a deep tissue session though, as I haven't had one in about 6 months.
This is an area where I feel many lifters just resign themselves to "getting older" and "not being as flexible". I want to be more flexible than I have been in the past few years, as well as stronger. I have heard very good things about Yoga for Regular Guys (YRG--Diamond Dallas Page), and may borrow my friend's DVD set to see if it is for me.
Also, my friend's wife is a yoga instructor, and has offered to have some private sessions for my wife and I, so I may look into that.
I am not going to jump into being a yoga nut (there are many of those near me), but want to use it like anything else, a tool, to make my lifting and golfing better.
I'd bet Coach knows a lot about the foam roller pre-hab stuff.