Unfortunately, your question isn't very clear.
Are you asking about an initial install or maintaining the tip's shape?
Once a layered tip has been installed and shaped on the lathe, then that shape can be maintained easily with any number of cue accessories out there (or even sandpaper.)
If you're installing the tip on something other than a lathe and are looking to shape a layered tip- that's different. Many of the cue maint. products should still work, but just take more time. A belt/disc sander would get the basic shape and then you could touch it up with your preferred tip tool.
As for the "PowerShaper 2," I doubt any cuemaker or professional repairman is going to have any experience with that (since they have access to the proper tools).
The website description of the tool is vague; if the "grit" is based on sandpaper, then it will wear out quickly. If metal-based it will last longer but may still "gunk up" with leather and need to be cleaned. How easily it can be cleaned depends on the design of the tool. On one hand they say the tool "keeps the tip in optimum shape," and on the other they say one tip tool starts the shape and the other finishes it.
In summation- you can do an initial tip shaping on a lathe in two minutes; I don't know of any other way to do it the same or less time without a lathe.
If you're just maintaining your tip- what's wrong with the hundreds of other tools out there? I just can't imagine anyone pulling one of these out at the poolroom to use it.
I take that back- if someone came in with a neon pink soft case, matching glove (worn on the wrong hand), and a Budweiser pool cue, then I'd expect them to pull something like this out to complete the hustle.
Best of luck.
