We use it ourselves from time to time. Most of our material is automatically ID'd by the beamline, other material is vibroetched, and some is weld bead ID'd. There is nothing inherently wrong with it if the material is such as to not be damaged by the welding regime, i.e. most carbon or low alloy steels in many applications. The problem I see with it is time consumption. There are certainly faster and more efficient ways, but on the other hand it won't be covered up by paint coatings either, and is easy to locate.