[Plugin: Redirection] Using the Plugin as a URL Shortener? Any thoughts?

I have been using the Redirection plugin as a custom URL shortener for both creating shorter links to our own blogs and for also creating some “branded” type shorter links to external sites. We do not use the “httaccess” files but rely on the easy to use wordpress settings.

Does anyone else have any experience using the redirection plugin for this purpose?

1) Do you see any SEO (Search Engine Optimization) Issues?
2) Any long term performance issues?
3) Anything we might be missing by relying on the plugin for this purpose?

It seems to be working great for this purpose and I just wanted to ask the questions in case I’m missing something.