Jay,
Just got my IsoFly in the mail the other day, so I haven't taken it backpacking yet, but I did some tests in the kitchen last night and it works great. I got 16 oz of 60 F degree water to a 212 F boil in just over 12 min using a Brasslight 600 Ti pot. It took 16ml or slightly more than 1/2 oz of Meth/Iso 50:50 mix to accomplish that.
I also have a Caldera cone for my Evernew 1.3L pot. With that pot and the cone I get an average boil time of 6min 12 sec. on 15ml of Meth/Iso 50:50 mix using the 16 oz of 60 F water.
So the IsoFly is not a speed demon, but it gets the job done and can be used with any of the smaller pots. (Tinny does not recommend it for any thing bigger than the MSR Titan pot (.85L))
The IsoFly weighs 1.3 oz and my cone+stove = 2.1oz but that varies depending on the pot you use, still the cone+stove will weigh slightly more for all configurations I think. The IsoFly however can simmer for 30 to 40 min. This would be great for baking or a slow cook meal. Also when you get done with the IsoFly you just blow it out and pour the unused alcohol back in the container.
Simmer and fuel retrieval are not impossible using the cone, but may be challenging. In addition the IsoFly is relatively compact especially when compared to the cone. The cone on the other hand is practically wind proof, very stable, fast and frugal with fuel.
Speedy but slightly bulky vs slow compact with simmer.
They both get the job done on about the same amount of fuel.
-Mark