I think the first time I ever really noticed this movement was when I reviewed the Savage Strength Training System. This movement can be done with a kettlebell, barbell, or even a dumbbell.
I did this exercise for the first time last night. I really like the way it hits the oblique/core muscles–something I want to work on. As mentioned in the video, suitcase deadlifts can also help you improve your grip strength. This also hit my shoulders, traps and upper back. I plan to incorporate this lift as a regular part of my training.
Another thing I like about it is the ability to train muscles effectively with less weight than I would use with the standard/sumo deadlift.