Aleene's Tacky Glue is good stuff! As Dan said, it isn't for every woodworking application, but it's advantages make it ideal for many general craft type projects where the glue bonds aren't subjected to a lot of stress as in cabinetry or furniture making joints.
I also occasionally use a gel CA glue in situations where I need an instant bond and have limited surface area to apply glue. Again, no substitute for a good woodworking glue, such as Titebond, for general use, but these specialty glues have their place and can make life a lot easier.