
HMBI only yields upon reduction a iodinated toluenesulfonic acid, which can be recovered quantitatively and reused. In fact, the HMBI used for my current research is reoxidized and reutilized reagent from earlier projects!
An example from the research of Michelle Borkovec (Class of '07):

This reagent is very applicable to the undergraduate reseach program here at Behrend. With the simplified work-up procedures this reagent offers, an undergraduate can spend more of their limited time doing research focused on reaction outcome and product separation and distribution rather than tedious and repetitive workup procedures for the reagent itself.
While the idea of "hypervalent" iodine compounds may seem a difficult concept at first, the chemistry is easily related to the core concepts of basic organic chemistry.

For example, [hydroxy-(tosyloxy)iodo]benzene (HTIB) or Koser's reagent bascically functions as a highly evolved bromine analog. If you can think of a reaction of elemental bromine with an organic compound, you already know one of the reactions of HTIB!