Can not speak for the reduced scaling version of the mod but indeed I think it only reduces the bloat as mentioned (Reducing numbers)
Playing the no scaling version I can say that that is feels alot different and way smoother. Especially in regards of itemization (Uniques feel very important to hunt for i. e.) while other good items will follow you around for quite some time.
Given itemization is imho one of the worst parts of the game this helps tremendously.
On a side node though the balance shifts quite alot given that you are almost always rather good equipped yet combats feeling smooth and fast is also something some people seek.
Currently also using the double spawn mod in that play through with twice the number of foes and it goes rather easy.
Given I have an optimized Ranger Lone Wolf in the party I would most likely break any version of the game anyway.