I use a lot of wipeouts and xclips, any autocad before 2005, wipeouts are very problematic as I don't think they got draworder right.
Dino-you might checkout the masking in the text editor itself, the express tool adds a freestanding wipeout but when they redid the advances in the text (2005?) the masking is included in the text definition. as such when you erase the text the wipeout goes with it. It also is a lot more docile in that it stays under the text, something the express wipeout doesn't always do.
The only control issue I have is that when blocks are inserted they come in backwards. I have noticed this before with attributes (an old bug that seems to be cleaned up) but a block with a wipeout will come in with the wipeout on top
and it is necessary to refedit it to push the wipeout to the back. This only seems to occur when the block is initially brought in or redefined.
As noted elsewhere I find them particularly useful in doors and windows in plan as well the sectionmarks etc that the text is readable. Also in elevations, particularly with porch columns and railing, I used to xclip around columns but xcliping around railing can get tedious. And folk are seemingly always moving doors and windows "just over a few inches", easy with wipeouts, a real pain if someone has exploded the block and trimmed out all the stuff that now must be redrawn.