Geaux xman, I agree, I had one case of ich that killed a royal grama. And that's when I pulled my fish and decided to hypo everything. I'm not saying it's the only or the best way. I've read others say that copper is a lot faster. I'm using some live rock for filtration so, copper is unnacceptable to me. I don't like doing a lot of water changes, copper requires daily water changes I believe.
If you check your PH and have a refrac to keep your SG stable, it should work fine.
I drop my SG over a period of 48 hours at most. The key is to do it rapidly because that doesn't give the parasites to adjust. It's primarily for ich. it may not work for other diseases such as flukes or oodinium. (not sure on flukes, for sure won't work on oodinium)
However, if the fish has something else wrong it should show up during the 4 to 6 week hypo time.
Oodinium should kill within a week or two regardless of hypo... If QT'd that keeps it from infecting your other fish!!!
Bringing up the SG is more difficult though. Need to do it gradually over 2 weeks. Fish can't handle rapid rises in SG. I try to raise mine betwee .001 and .003 every 24 hours. Then the last few days or so, I let the evaporation slowly raise the SG to 1.023 - 1.026.
It does waste some salt, but I just have a 26 gallon QT.