This is an amazing extension - not marketed well, nor is the user interface *very* pretty, but it does the job.
I looked for something to do this for a long time. Allows you to set a custom layout for items, I'm even able to write my own itemtypes!
This should *definitely* be an Editor's Pick, and integrated into the core joomla ASAP. Suggestion for the developer though: could do with a little prettifying!