Respectfully disagree per the above points.I don't think this is a full and definitive test of stereo / soundstage / imaging capabilities, but I like it because it seems like it would reveal flaws quickly. For me, that's the utility of any material used for a listening test. I don't like to sit there judging nuances of sound quality subjectively, but rather go down a list eliminating flaws via stress tests, first.
Listening to a myriad of test tones and tracks is an inevitable thing when setting up a system. That's the only time I play my Sheffield Labs reference set-up tracks (there are others, of course).
BUT... Using *only* white noise to establish imaging aka stage is complete nonsense. You listen to right channel, left channel, in phase, out of phase (the latter two are typically based on some noise patterns) etc etc etc until you have set those up -along with your fav reference tracks- to your preference.