I have the old simulator, but I love it all the same. My climbing and bouldering improved significantly after I started training on this baby. Metolius has a great 10 minute power workout on their website. For endurance workouts, I stand on a step stool two feet in front of my door (you should be in a overhung position) while switching hand positions every 5-10 seconds. Time yourself and hang on till you fall off! Your forearms will be screaming by the 2 minute mark.
But be careful; injuries can happen quickly because so much stress is put on your fingers. If there is any discomfort in your fingers before a hangboard session, stop. Take a rest day and let your hands heal. Also, only hold open handed; don't put your thumb over your fingers, as it will lead to injury. Warming up and cooling down is equally important as well! With that in mind, the simulator is an amazing piece of equipment for a climber of any level.