Weighing the benefits of the Image Caption module

I recently upgraded my site to D7 and since this module doesn't yet have a D7 branch I found a way of achieve captioning with jquery. Now that their is a patch for D7 #1008886: Drupal 7 D7 upgrade? I was wondering what advantages I would gain by ditching my solution below and going back to using this module.

// Add captions to images
// Derived from http://www.jqueryfun.com/2010/06/20/make-nice-captions-using-image-alternative-tag/

jQuery(document).ready(function($){
	
	// Imagecache: Adds a wrapper to each image with the same float and width
	$('img.imagecache').each(function() {
		var direction = $(this).css("float");
		$(this).wrap('<div class="imagecache-wrapper ' + direction + '" style="width:' + $(this).attr('width') + 'px; ' + $(this).attr('style') + '"></div>');
	});	
	
	// Imagecache Large: Adds captioning
	$('img.imagecache-large').each(function() {
		var direction = $(this).css("float");
		$(this).after('<div class="caption"><span class="caption-title">' + $(this).attr('title') + '</span><span class="caption-alt">' + $(this).attr('alt') + '</span></div>');
		$('.caption-wrapper').width($(this).width()).children('div').each(function() {
			$(this).css({width: $(this).siblings('img').width() - 20});
		});
	});
	
});