Smoothing groups aren't topology dependent so yes. I've been using this technique for years, although I've used edgechex since that was the only option previously. This one looks better though. Here's an example of how you can work with it. http://www.mattiasmagito.com/misc/Edgechex_Example.jpg
I really like the Quad Chamfer Modifier, but I have a question about generating UVW's. Is it possible to add an automatic UVW setting? So for example I would first unwrap a box, then add the Quad Chamfer Modifier and the UV's would automatically get interpolated on the edges (sort of like the shell modifier setting for UVW…