I dunno about them eliminating algae since i wasn't having algae problems when i got them (and am not now), but i sure like them! They have such personality, rolling around the tank bottom like tribbles. The only thing i dislike is the "mulm magnet" effect, but that's not too big a deal if you squeeze them out like a filter sponge at water change time. Roll them between your palms like a ball of clay to help them maintain the round shape.
They are a very slow growing algae, i have seen claims that they will outcompete other forms of algae but i suspect that's only valid in high light tanks where they can grow as fast as possible, and maybe not then. I don't really understand how a slow growing algae could outcompete a fast growing one, but i could be wrong!