Join up... is it really a good way of training horses?

I just read the first reply to the thread:
http://www.barnmice.com/forum/topics/have-you-ever-had-or-dealt

and it said ...."If you don't know what join-up is... It is basically taking your horse into a round pen and chasing them away from you with a rope... Make sure
they are always at a run and change directions every 10 minutes or
so.... You will know your horse is ready to listen when they show on of
three signs of submission.... 1. Suddenly stopping and facing you 2.
Chewing 3. One ear is always pointed toward you... When your horse shows
you one of these signs, turn your back to them... They should walk-up
to you and either nudge you on the back or put there head over your
shoulder... At this point you need to give them a treat and a little
rest... Then walk away... They should follow...If they don't you need to
run them some more...
It is important to have lots of time to do this, you should not be rushing it... If it has been a long time and your horses is exhausted
and sweat, but still hasn't given in .... Give them a rest and try again
later in the day or the next day...
Also, if you don't have a round pen available to you... you can use a riding arena... You just need to take some boards or sheets of wood and
block off the corners, so that your horse cannot corner himself and make
it hard for you to chase him/her...
Hope this helps!!! If you need more information you can just google it or watch a video of it on youtube....

****** One important thing to know!!! YOU SHOULD NEVER HIT YOUR HORSE DURING THIS EXERCISE!! IT IS A NONE VIOLENT METHOD OF TRAINING, AND YOU
WILL LOSE YOUR HORSES RESPECT IF YOU HIT THEM!!"

I am not trying to be mean to the person that wrote this, I am just using her description for what join-up is, simply because I think that this is the way most people do it.

My question to you all is; do you think this is a good thing to do with horses? If so, why? if not, why?