This is actually one of the better things, for me anyways, to come out of Complete Adventurer. I tend to utilize this part of the skill quite a bit, especially since many opponents will take no steps to hide how powerful they are from you unless they have a specific reason to do so. It is generally a not much an issue when fighting monsters, since simple knowledge checks tend to cover the basic versions, but in campaigns where you are, overwhelmingly, fighting humanoid opponents (which is pretty much every campaign I'm in), or often fighting home brew creatures, who quite possibly have class levels, it becomes invaluable to know about how much more powerful than you they are. (Especially if your DM is a fan of adding weird templates to things)