I first saw the folding thing on Big Bang too! I was at my in laws when that episode aired, and I exclaimed how much I wanted one that my father in law bought me one for Christmas..
And it collected dust
it wasn't helpful for me at all. I now do the konmari form of folding, and since it focuses on smoothing things out and folding a certain way, I can (when I can sit and focus) fold my entire family's laundry in an evening. Definitely the #1 household chore I struggle with (OK, baking is #1) and I'm a home maker so I definitely feel the pressure to, you know, fold the laundry.
There's a ton of videos on YouTube for this method. I also love how I can easily *find* what I want to wear in my drawer (especially nice if your fabric or clothing sensitive)