I have used this recipe and real PBW, and could not tell the difference in how clean things ended up. They both came out clean, with no discernable residue once rinsed well. I've got no quantifiable means of measuring though.
I used the recipe posted by the trevster on page 2, which is based off of the table on the first page.
I did notice that this stuff foams in my cleaner pump more when cold, than when warm water is used. Even cold it's still not even close to straight oxyclean. That stuff foams over the top of my pump tub for a long time. This will get about 3 inches of foam on to of 5 inches of liquid, and stays that way as long as the pump is running with a spray ball attached. The foam goes away pretty quickly when I turn the pump off to change items or be done cleaning.
I might use it today to clean a keg, carboy, and tap line. I'll try to get a pic and post it while it's running.