It works fine, although you’ll need a laptop or something to copy the files off the camera and then onto the USB stick. It’s all just data in that BPAV folder, and as long as your memory stick has enough room, you can copy as much as will fit. If my math is correct, 32GB will handle just under 4 hours of HQ footage at normal speeds.
And yes, you should check out the MxR reader/adapter gadgets. SDHC cards are going to be cheaper than USB sticks to be giving away 🙂