I can't believe it really saves that much time when you think about it. I haven't tried it yet (but will soon...YAY) so you'll have to share your experience with it when you get back.
A friend here at work recently used it for a trip from Bishop to Dallas, TX. She checked her family of 8 in the night before their flight, arrived at the ticket counter with 15 minutes before her flight was due to take off (YIKES) and claims they just dropped of their bags, walked to the gate, and boarded the plane. I find that hard to believe, but if it's really that simple....Wow.
Let me know how it goes, will you? We also have the 7:30 direct flight in September and it would save us some sleep if we don't have to be there super early.