I use NZ LFS for small plants and larger plants of a few species which seem to thrive in it, such as N. hamata and N. tentaculata.
In my conditions, it tends to stay too wet, so I crock pots up to 4" to about 1/3 their depth. Small baskets don't need crocking, but baskets 5" and larger have a smaller inverted basket placed in the bottom. I avoid solid pots over 4" for LFS.
Done this way, plants dry quickly and require water every day or two. This keeps them more or less in sync with the majority of the Nepenthes, which are potted in a more complex, loose mix.
As a bonus, the NZ moss often starts to grow, which is attractive and generally indicates the growing environment is satisfactory.
In these conditions it still has the disadvantage of difficult repotting if it has started to break down, and if watering is missed for 3 or 4 days, it dries completely and is difficult to re-wet. Also, the plants in LFS are foliar fed only, making my fertilization regime more complex.
I didn't mean to get carried away here...this is just what works ok for me.