it's easier to set than warp markers though. You basically set a cue point on a repetitive beat/sound and then in the cue edit, make it a beatgrid marker and the name it. Once that's  done, it's just a matter of verifying the bpm and setting that. It's fairly fast and easy. You can do that in a quarter to half the time it takes to warp a track.

If you don't slave the deck or hit the sync button, you can still manually beatmatch the track to another deck. Once you do that, it should stay in sync until you mix out of the original track.