Thats a good rule, nowt worse when teams are beating you or getting a valuable point and they start taking forever, especially if it's a team who start doing it as early as they can into the game.
When was the last time you saw the rule enforced though? Is it not meant to be an indirect freekick? Keepers get booked for timewasting all the time on goal kicks, pretty sure Krul has had a few.
I can only ever remember seeing it enforced once and that was for us, can't remember which game it was but Shearer dispatched the free kick.
He also appealed to the ref to get the kick -- he'd been counting. It wasn't long after the rule came in, though I can't remember which game it was either.