I discuss the disadvantages of Selective Tones in this post and related ones…
The main problem is that it can produce posterisation in some cases.
Even if it is a wooden boat like this one? 
Always. And, as I am constantly finding out, don’t stick to older tools when newer ones do the job better.
Agreed but, as you say…
This is exactly why I tend to the +/- 5 to avoid artefacts on paper.