Short answer is yes, it certainly is.
I used it to build my exhaust on my SR500. I built the primary to PipeMax specs and used it for the overall length. Compared to the old White Brothers set-up (1 3/4" header with a Supertrapp with an open end cap) I went up 3 main jet sizes and leaner on the needle - it rips from idle to redline. Granted I'm running a real megaphone/reverse cone now and a much better muffler. Since mine is a street bike, I built it a little bit longer than you would for a race bike, but it still pulls great to redline and zero signs of reversion.
A racer I've chatted with bought PipeMax and had success using its recommendations.
Lastly, the amount of information it gives you for stuff outside of exhausts is staggering and well worth it for dialing in an engine, or showing you what you need to get power for a certain package.
As far as exhaust designs go, just trust it. It works. It's going to go against some things you see on this site. One thing it is going to show you is that the 1 3/4" head pipes are insanely large for a XS motor.
That being said, it's not a simulator. It's more of a window into the engine. Remember, garbage in, garbage out. To get exhausts dialed in 100% you need pressure transducers to get that last little bit (only high end NHRA,NASCAR, and other pro outfits are doing this work), but PipeMax will get you very, very close.
I just recently upgraded to the latest, 3.9 version, of PipeMax.
Let me know if you have any questions.
Cheers,
Bob