Welcome Ravi,

I can´t go enough describing about what has BIAB made for me as guitarist, in fact helping to improve my playing and improvisational concepts. Just the fact of be able to select a style, a tempo and my own chord progression turn BIAB in a powerful learning/practicing tool. Now, with Soloist, multi jazz focused styles, Real Drums, Real Tracks, plus the inmense available library of songs among which are several Real Books and jazz standards, the possibilities become infinite! . The ways I use BIAB are diverse, sometimes I just load the demos bundled with BIAB and start to practice/improvising over. Other time I load a jazz standard and change its tempo and even key for improve my harmonic sense. Other I try to learn phrases or even complete chorus of BIAB generated solos. Also I load a song just with bass and drums for construct, learn and practice songs with chord melody or convert a jazz standard melody with the chord progression feature. BIAB can be a great reference by record my guitar playing audio over a song or jam chord sequence and after I listen myself with criticize sense. One of the most rewarding ways of use BIAB is as compositional resource, it help me to render to reality many of my ideas and even I record my guitar audio in real time, turning BIAB in an amazing song sketchbook.
I have some video examples of my musical work where Band in a Box has been helpful in diverse ways:

https://www.youtube.com/watch?v=FLHoFoRudOM&fmt=18
https://www.youtube.com/watch?v=o7BaLgnwpFk&feature=related&fmt=18

Cheers.

Carlos

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http://carlosarellano.com/music