Is it meant to be used as a replacement for the Built-in IBL?
Yes, except this requires a texture and does not ‘bake’ a procedural or ‘rebake’ a texture. This means it retains all the details of the texture.
Also, from my brief tests last night it seemed as if this shader has directionality to the lighting coming from the area light.
Don’t forget to make the light a ‘custom’ shape and attach the user_ibl_env to the mental ray environment connection of the render camera.
