The spacer takes the slack out of the throttle cable so you get the butterfly valve in the throttle body open 100% (TPS voltage at 100%). Which means it's easier to hit WOT. It also brings the gas pedal up about even with the brake pedal. The only downside I can think of is that you'll likely stretch out the throttle cable over time, since the gas pedal doesn't completely hit the floor at WOT.
Before I did this mod, to get WOT I'd have to slam the pedal to the floor, and then only sometimes. After the mod, no problems.