I'm certainly not convinced of that .yes it will be fishing pretty much whereever you sling it but i couldnt call the Chod a 'general all-round rig.
It was designed , i believe , for fishong in silt , and i have used it quite a bit in recent years when Fishing a lake covered in a thin layer of filamous algae as i think it gives a pretty good presentation in cases like that .
However as somebody else has said , i wouldnt dream of using it over clean gravel and would be very dubious of its use in heavy weed especially the lakebed to surface stuff.
A search of the forum will bring up good alternatives including a paternoster-type rig i believe , that i know Nick and CM to name but two , are big fans of .
Imo there is no general purpose rig like a simple standard kk rig in various materials , on a running set up () , simply because of its versatility and its ability to be used for upteen different applications with a tiny tweak to suit conditions .
I have used the Choddy a lot over the years but because conditions dictated it , in my opinion of course