I love this stuff, and it's definitely multi-purpose. I've used this more often as eyeliner because I don't wear black lipstick quite as often, so my review is based on the several times I've applied this. It glides on smoothly, and even is forgiving for slightly shaky hands. I have been out dancing (translate: hot and sweaty), and have never had to reapply this. It doesn't streak or smear. It's also soft enough that can be used for finer tricks and applications (e.g. gliding out beyond the eyes, or for face painting). Recommended!
I bought this for my daughters halloween party a couple weeks ago and it was fine. The tip was soft and didn't smudge but after about six or seven uses the tip broke off and was left dull and flat and then the whole thing eventually broke. I would recommend it if you're only using it a couple times but not alot