Do you have any suggestions or tips on using it?
The boom arm is handy in some cases where you need extra light above your subject and using a light stand might get in the way. The arm lets you position your light and modifier above and out of the way of the camera when you are using it as a supplemental light source, probably a third light. Best use is likely in the studio. If you're going to use this, spend some time getting familiar with the balance and setup. It can be tricky working with an eight pound light on one end and an eight pound counter weight on the other!
I happened to note that it allows me some flexibility when using with a Bowens Gemini 400 and Westcott 7-ft parabolic umbrella. I positioned the Gemini and umbrella higher up and away using the arm and a heavy duty light stand (something that is a must for use with Westcott's boom). The umbrella was now up to ten feet high (top touching the ceiling). With this setup, the parabolic is now out of the way and able to reflect the Bowens from a decent angle. Once again, there is a lot of weight and all must be properly balanced. An assistant is highly desired, especially in setting up and tearing down. All in all, the boom could be useful at some in-door locations. The parabolic produces some wonderful light for portraiture.