Well, after using the Cricut to cut out gumpaste and modelling chocolate, I think that I've come to the conclusion that FOR ME, it would be faster to use it to cut out a stencil, then cut the fondant/gumpaste/chocolate out using an exacto knife. I'm pretty fast with a knife (watch out!), so this might not be the best option for other people, but for me it's going to be less time-consuming.
It took a long time to roll the gumpaste out thin enough to get it to go through the machine without getting hung up on the blade. Now keep in mind, I still don't have the deep cut blade housing since nobody around here seems to have it in stock, so that might have made a difference. However, in the time it took to roll the gumpaste out, fit it on the sheet, and let it dry for a bit, I could have rolled out fondant and cut it out with a stencil. It's kind of like using an electronic organizer instead of a paper datebook. By the time I turn the organizer on, find the right page and enter the information, I could have written the same thing down in my book about ten times over. Come to think of it, I do most of my designs freehand, so the stencil might slow me down too much!
I do find it amusing that the Cricut for gumpaste is being promoted as being great for people "with no artistic ability" on some of the sites I've seen. I can see that if you don't think that you can do the cutout designs on your own the Cricut would be very helpful. If you can draw, though, you might find out that the machine is better as a tool for preparation as opposed to something to use as a time-saver. I'll be using mine to make specialty stencils and outlines for specific shapes, but I don't think that I'll be taking the time to put gumpaste through it anymore.