It can't hurt to have this running along side your AV.
Of course, this comes as an additional measure to your normal antivirus. The way to stay protected is to stay up to date with Windows updates, install the free McAfee site advisor toolbar, regularly run scans with your AV and even another program like ESET Online scanner.
But most of all, be smart when you're on the internet.
This software started off named something else then MBAM bought the product and hired the creator. It will run along side any AV and is free for the moment. It will handle cryptolocker and other variants. It's in the beta stage and isn't advised to run in a normal environment but I think it'll be fine.
Considering that the software is in a beta version and that the editor says: "As this is the very first beta we do encourage beta users to install the product in non-production environments for testing purposes only."
Do you think that we should wait before putting it online or publish it with due warning?
It's in version 8 and they acquired it from when it was known as cryptomonitor. Chances are it works fine they just say beta so they can't be held responsible. I've had it on my machine for a week and I now have it on a server 2008 terminal server. I would publish it with a disclaimer. This software could potentially prevent some serious fluff ups however I've had no issues.
Adding duff entries in the HOST file to prevent hijacking and avoiding potential crap.
Here is another site with a list of instructions on how to protect yourself. Pay attention to the group policy to put SOFTWARE RESTRICTIONS in place to prevent EXE files being run in common places used by malicious code.