The list of features is in the first post of this thread. Or else install the plugin and read the Help file (or if you dont want to install just downlaod the zip and double-click on the .html help file within it).
Yes it does a lot more than just importing shelves as tags. And yes you can import the rating from your goodreads review and the date read if you use the Sync from shelf column.
If you still can't figure it all out, perhaps you should ask what it is you want to be able to do and we can tell you if that is possible. Or just keep skimming through the thread, at various points people describe what they are using the plugin for, and obviously over time more functionality got added so keep reading until you get back to here
