I also would pass on that tool.
While I am sure it would work, a boring head is a precision tool and should be used as such. A boring head is not designed for heavy side loads of plowing thru material sideways. Just like you would not use a mic as a C clamp, it will do it but that is not what it is made for (and would make most of us cry if you did).
Second point is that the position of the insert is not ideal for fly cutting or boring but would work better than nothing for either. I like HSS for fly cutting so that it is easy to grind whatever cutting edge is best for the job at hand.
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