Unless you own the range and can leave it set up, it's a heavy PITA.
While the ringy-dingy feedback is nice, shooting it at "practical-use" handgun distances puts everyone involved in the shrapnel radius. as Chris found out.
It doesn't matter if the manufacturer says it's "rifle rated" past 100 yards or whatever - guys are going to want to shoot various tactical drills with their AR's at 50 yards and crater the face, which renders it more of a shrapnel hazard for handgun use - even if the stand is angled to deflect downward.
We're no longer using a range that allows us to use the stuff, but I REALLY don't miss it unless it's for 200+ yard rifle. If you want to do a lot of shooting on reactive targets, put out a memo to your friends requesting all the plastic bottles, dog food and soup cans they can muster. The plus side is that if we DO go back to shipping our recyclable items to Red China for processing, the riddled remnants will give their analysts something new to think about.