Nice tool but even nicer plugs.
Besides being snagless the other advantage of the MP588 plugs is that they have channels for each wire which makes accurate insertion of stranded wire much easier.
I have been using the MP588 (the -L means a pack of 50) plugs for about four years now. You don't need the Panduit tool to properly terminate the plug. Just about any non-AMP tool will do. I have terminated over 1,000 MP588s using a $50 three die (8p8c, 6p6c, handest) tool from Milestek with no problems.
I agree that CTS-8 is an excellent tool and very nice to use, however you don't need the tool to take advantage of the benefits of the MP588.