Over the Shoulder Miscue Analysis

Is anyone out there using miscue analysis as a primary means of assessing reading? If so, I'm wondering if you use miscues to aid other students in improving their understanding of the reading process. In my class we have an agreement to honor student's miscues as windows into the mind and the reading process. I always own up to my own miscues and we often will take time to discuss the miscues made (by me or anyone else) to see why we may have chosen a particular word or phrase instead of the one in the text.