Oh dear... I really hate Internet discussions. But here goes:
First of, I would agree that you (rhowaldt) probably should not put it on your cheatsheet for the reason that td6d stated: it is not the conventional way of representing it and therefore might be confusing to people who are learning. I fully agree on that point, and like I said I am self taught so I am the worst kind of authority on this point. Also you have a link to Suva's chord machine which is better than my chart. However:I love theory.
And saying that the circle of fifths is for telling the number of flats in a scale is really an understatement. It is like saying the the colour circle is for telling what the complimentary colour is. It is always the first usage of it that is mentioned but once you know the system, you won't need the chart for doing it anymore.
What the circle of fifth is is a graphical chart showing the relationship of notes. It is arranged according to intervals of five half-tones because this gives even harmonic/consonant steps, as opposed to putting the up linearly as my "circle of ones" (I don't know what it is actually called... circular chromatic graph?). The beuati of using such a circle for composing is that it is even, circular and doesn't difference between octaves making it an ideal tool for transposing, figuring out a relative scale and finding your way out of a complicated progression.
And I do use it, just not for composing. If you've ever played the accordion you would know that the bass bellows is arranged accordingly intervals of fifths and since you are not likely to find an accordion arrangement for the song you want to play you often have make use with a piano arrangement. It comes in handy for translating.
I knew the intervals of the circle of fifths before I had even heard about it... I think it is a tool that all musicians can have joy of, not just pianists.(I'm a terrible accordionist though)
The chart is the stuff I use when I compose and play music, I was just inspired rhowaldt to put it all up on one well organized page and I wanted to say thank you and show off that I know how to make dark glowy stuff in photoshop. I didn't mean to do any harm... I always think in sharps because it helps me avoid getting confused, I can see how it would do the opposite for most musicians though.