Great, when not best 32-bit bridge. Works flawlessly (at least with all my 32-bit plugins). Installation is simple and usage is very easy and almost self explanatory. Just open the program after installation and choose all 32-bit plugins you want to convert (it's called resurrect). Open DAW et voilà.
Automation and presets and saving presets within Logic X and within plugin works. At least I haven't yet encountered any issues.
Guess most of the old plugins will become sooner or later an overhaul to 64 or will be succeeded by a new version. At this point 32 Lives will become obsolete. Still there will be probably some old plugins you want to still use, so get 32 Lives.