This works great for me if you follow the instructions on the pack really carefully - blot, lipstick, reapply, blot again, then apply lipcote. I would add 2 more steps to this - moisturise before and press some balm on with fingers after - it is really really drying. If you have chapped lips it will sting really badly too and it doesn't smell pretty (or taste nice!) when you first put it on - but that does go away. (I have heard rumours of a vanilla flavoured one - not personally confirmed though).
I wouldn't recommend this for regular use - but if you're going out for a meal or a party etc. then it's a must because the last thing you want is to spend all night in the ladies finishing your tube of lipstick. This will fix that. I have actually managed to get through a whole meal wearing bright red lipstick with negligible fading.