[AccessD] SQL in-line subquery

Gustav posted a solution for "Selecting Nth Max or Min from a table" a few
days ago.
In his solution, he used the in-line subquery.  His final comment was:
<Snip>
Those not familiar with the strange [..]. syntax may look up the
archives for "SQL in-line subquery"
<Snip>
Since I was (am) unfamiliar with this concept, I did look it up.
I have a few questions.
1.  Does this method run faster than a nested query?
2.  What are the pitfalls?
3.  What are the benefits?

Any information or insight on this topic would be great.
Thanks in advance to all responders.
Jim