It's also a great way to move around in a dungeon by macro'ing it with FD.  (I'm almost positive the macro is listed in the macros post, but it bears mentioning here because of Hakuan's appropriately-titled Subject.)

/cast "Storm Stride"
/cast "Crescent Kick VI"
/cast "Feign Death III"

Essentially, this allows you to be 25 ft. away from a mob while FD and instantly "FD teleport" to him.  It's not 100% guaranteed and works less easily on roamers, I've noticed... but still quite valuable nonetheless.

Second major use (and in fact my primary use, esp in APW,) is I use it to macro out all of my pulling gear to dps gear.
It's not necessary, but like Simonson, I use it constantly for perfect positioning and insta-port after FD-pulling when the tank grabs aggro.

1. Pull mob.
2. Run past tank.
3. FD after tank establishes aggro, and immediately hit the macro. (listed below)
4. Hit it again once cooldowns refresh to activate Storm Stride.
5. Start debuffs/dps.

Macro:
/wear "DPS Helm"
/wear "DPS Arms"
/wear "DPS Weapon"
/wear "DPS Weapon 2"
...
/cast "Storm Stride"

The only reason in step 3 that I hit immediately after FD is that while it'll change out the weapons in combat, it won't change out armor while in combat.  (Someone correct me if wrong, please?)  Therefore, FD and immediately change out armor before the mob's AE attack puts you back in combat (the macro works even while 2s cooldown refreshes.)  Then, once the cooldown is gone, it's essentially just a Storm Stride attack to go into your normal opening attacks.