Peter, I think you have the + and - inputs swapped! The opamp part is right, just not the way it's hooked up. Looks good otherwise. :mrgreen:
Running wires to a DIP adapter is a good idea, and the rainbow cable would actually make it easier to keep track of the wires. A hard drive (or floppy drive) cable also comes to mind, since you can rip off the number of wires you need.
As far as where to use it, it's intended for making smoother distortion than an IC opamp, but I would stick with IC opamps for things like tone controls/oscillators/etc. I haven't studied the effects of the diode on other circuit applications, only as a non-inverting amplifier, and inverting amplifier with the required cap mod mentioned on the page.