NewBlueFX's transitions are somewhat processor intensive. At least based on my own experience, expect to wait about a minute or so for each one to render when previewing a shot, even on the fastest PC. On the other hand, they're extremely easy to insert into the timeline and then fine-tune, as opposed to dragging footage into After Effects, futzing with individual parameters, and exporting it back into your NLE's timeline.
Products such as Digital Juice's Swipes, and NewBlueFX's various transitions can add plenty of punch to a video, when carefully inserted into the right moment. Some of these transitions are also great for animating otherwise static titles on and off the screen. For more on titling, check out my article on the topic in the August edition of Videomaker magazine.
For those seeking more information on shot transitions, pick up a copy of Setting Up Your Shots By Jeremy Vineyard and Jose Cruz. (Click here for my 2007 Blogcritics review of the first edition of the book) Setting Up Your Shots places a variety of film transitions into context, by both illustrating how they work, and listing the films which put each transition on the map. It's highly recommended to those seeking to work with film or video.
Beyond that, keep a keen eye out for the transitions employed in your favorite TV shows, commercials, and movies. Then keep practicing and experimenting, and watch your productions transition, so to speak, to the next level. Happy editing!
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