Yes, sneakyimp, it does.
The purpose of my approach is to solve problems that can not be done any other way: eg
delete all but the last 5 posts in every thread/category/sub-set
display the first 3 posts in each thread in all forums
Sequence complex grouping of an arbitrary number of nested subsets stored as hiearchical data (which is what I was solving when I devised this method).
That is, my method is devised to solve those problems that can not be solved by LIMIT (even when over partitions), GROUP BY with MAX(id)/MIN(id) etc because we wont something other than the first or last item in the sub-sets.
The sequence problem itself can be solved more efficiently in many databases with vendor specific code, but this is vendor specific and not universal; and remember, not all versions of any database support stored procedures and some don't support them at all.