One thing I like about it is it is not a "snap to cover" thing like in a lot of games where you press a button to go into "cover mode" and press it again to be able to get off cover.

This way, I don't think it would really slow down the gameplay much at all. In any shooter players will use cover -- it's just a matter of putting something between you and the enemy -- this appears to be something more aesthetic to encourage players to use cover, perhaps with some perks regarding hit-box size (I don't think you've said whether or not this is done), so it looks to me like it does nothing but augment the TPS experience.

Jibb