I use it all the time! Fire is a modellers best friend! Really
foam is easily shaped by fire, wood is deformed easily, and it gives unexpected results you wouldn't get with sanding int...
You should really give it a try, just take care to fully extinquish the flames before leaving the house! (foam or other materials tend to smoulder for a long time and then suddenly catch fire again)
I usually do it before painting, but to finish up some stuff is rather nice as well....
oh, and don't combine deodorant and fire when you think it's taking too long... -MATT!