We use it for just this purpose. It is like the opposite of nastran. Nastran gives you incredible control over details and tools for building models from geometry, but setting up for runs and pulling results can be tedious. In stresscheck, if what you need to model isn't in the handbook, you have to do it by hand, and there are only a basic set of tools for that. However, running the solution and pulling results is a breeze. Because it is a p-element code, it is very forgiving in mesh size and shape - again, the opposite of nastran.
Usually, we pull farfield stresses from nastran and input them as loads into a detail stresscheck model to obtain raised stresses for fatigue analysis using unnotched S-N curves. Works pretty well.
Other notes - great tech support(!), and some bugginess with windows NT.