I am a purist, I prefer to modulate rather than blindly slip the clutch. Your right it is a less than ideal pedal, though I do like the fact that it is rebuildable.
I just converted the stock clutch master cylinder to a LHRB. I use to drag my rear brake alot and I ended up burning up the master cylinder on my KTM so I switched to the LHRB and I have been very happy ever since. For me it just gives me much better control and feel on the rear brake. I relly like it on long down hill sections.
The only times I wish I had a clutch lever is on a motocross track or when I have ridden at high elevation and my jetting was not perfect.
I may end up getting Steve to do me a full set of graphics later but for now I like the stock ones fine.