I have tried the utility and:
1) It works
2) it takes some work to figure out which sizes will be appropriate for the handheld as you have to input both the height and width before you generate the bmf file
3) It can only handle unicode fonts (such as ms gothic in windows) while non-unicode fonts (such as system, from the same OS) will not show correctly (the wrong letters will be shown, for exemple Ls being replaced with Ks)
4) It uses six encodings linked to the unicode fonts to generate its file. here they are in order: GB2312, GBK, BIG5, JIS, KSC and ASCII. This is important as the fonts in the fonts directory on the handheld has bmf fonts for most of these encodings, and choosing the wrong encoding for your selected font (for exemple, generating a BIG5 font to use as an ASCII font) will make the text garbled on the handheld.