I got a colortune and used it once. Everything went fine, or seemingly so, but I got the thing clearly too lean. I haven't gone back to experiment with it again, but I intend to. I think it's always a good idea to have some kind of clear, objective measurement, rather than to depend on artistry. But I'm a technogeek, so whattaya expect?
That said, it's the old story--it takes a little skill to do the lift-piston trick, but it works fine once you figure it out. A lot of things can give you an incorrect result--for example, lifting the piston too much or getting one carb too rich and the other too lean. That 1 mm lift that the books recommend is probably on the high side; you just nudge the thing a teensy bit. And, you have to adjust the carbs together--you can't risk getting one a lot different from the other. It's probably easiest if you start with the carbs clearly too lean, which is very easy to detect when you lift the piston--the thing nearly stalls. Then, as you adjust them ritcher, you can see the change easily.