This equation is one of the best equations of state that require just three input parameters (Tc, Pc, and ω). It is more accurate for heavy hydrocarbons and works better at temperatures above the critical point than the normal Peng-Robinson equation. Note, though, that it isn't necessarily better than the SRK or PR equation for light hydrocarbons, and may even perform worse than them in some cases. Also, it is still not expected to be particularly accurate when predicting properties of highly polar molecules, particularly those that are capable of hydrogen bonding.
More sophisticated equations of state may be required for good predictions of the properties of polar molecules over a wide range of conditions (e.g. those of Patel & Teja or Stryjek & Vera). These equations, however, normally require more than three input parameters in their formulation.