For sure it is the #1 time saver in Rag Rug making. That is due to my preference for clean edges and exact sizes of strips as opposed to raveled/stringy edges and approximate sizes when strips are torn.
I'm picky that way, and I'm a 'NeatNick' when it comes to craftsmanship.
So it goes to say that making the most of saving time begins with cutting strips...lots of strips.
I select fabrics from my Rag Rug Stash based on color, print and weight (some fabrics are stiffer/heavier).
Once I have filled a sizeable basket with a batch of rolls, I am ready to coordinate them for a rug. More often than not, I end up back in the stash for one or two blenders like the solid green and blue in the rug now on my worktable.
Here are a couple of Round Rag Rugs from a Basket Batch of
Salem Ruler and Olfa Cutter Rolls.