Very, very, very effective at converting gas jet velocity into noise, blast, and muzzle flash. Also effective at reducing the already-very-mild .223 recoil and muzzle jump. The question to ask is whether, for your intended purpose (plinking or target shooting? USPSA/IPSC/3-gun? defense of home?) is worth the increased concussion and flash.
Unless this is a dedicated sports gun, I'd be much more inclined to go with a good flash suppressor than a brake. A brake can make a pleasant-shooting .223 downright unpleasant to shoot, or to shoot next to, and I certainly wouldn't want to fire one indoors. I believe the loudest gun I have ever shot next to was a .223 with a 14.5" barrel and a brake.
If you don't care for the plain A2 flash suppressor (I don't), there are plenty of other options. Here is one that's very well regarded:
http://www.advanced-armament.com/BLACKOUT-Non-Mount-Flash-Hider-556mm_p_449.html
Or the Smith Enterprises Vortex (the one my AR came with):
http://www.smithenterprise.com/products06.05.html
Or the YHC Phantom:
http://www.brownells.com/rifle-part...s/phantom-5c1-comp-flash-hider-prod24939.aspx