yes I have it and use it. I find it handy mostly for looking up rhyming words and phrases to kind of kick start some new directions in a lyric. Its also handy for cataloging songs and the Songuard service.
They have gone to a subscription based model now.... you get the updates as they release them. Version 2, which I have, was the last one you could pay for in full. My Songuard service still works. I get their emails and ads but will probably not jump into the subscription model.
There are a bunch of free sites and phone apps now that will do the rhyming dictionary thing at no cost. As far as Songuard service...... no one wants to steal my songs anyway....
I'm sure some folks will find the new MW3.0 perfect for them.