I've used it a couple times for a visual/dimensional layout reference. Was trying to recall a specific example what project(s) I used it for, but cannot. I've used it so seldom, I had even forgotten about the Square Around Gadget when replying earlier in this post!
Nevertheless, I think it seems logical to add a "square around" option to the Vector Boundary feature if it's not too much trouble and time to do.
-ShopBot Buddy PRSAlpha CNC