Just applied it and it works well. Updates to 2003/4 rosters (including real player names), flags, badges, kits and boots.
Looks really good to be playing in real kits with real sponsors. These type of patches have been available already but this is the first all-in-one I've seen.
edit: there's also a patch on the site that changes the music as your players are running onto the field to the Champions League music! B)