Does the  Nikon BDC reticle work or is it hype?

Should be able to tailor it to your individual load/parameters pretty easily using their Spot On ballistics calculator.
I still much prefer a Mil or MOA reticle (with matching turrets) and knowing your dope.
Whatever you go with, print your drops and stick them on the inside of a flip-up lens cover.  It'll go wherever you go and always be staring you in the face.  I do it on all my scopes.  There is a ton of info on that little bitty card.
As an example (my 6.5 Grendel with a Mil-dot reticle in this case):






 

LM is correct. Like any ballistic's program the results are only as good as the data you enter. Make sure you measure scope height, mid bore to mid scope, chrono your load, don't just take the factiories MV, yours will be different, trust me. I have been getting 2900 fps on .223 55gr bullets rated at 3240 fps with my 18 in. LMT. Spot On can do a lot for you and save you a considerable amount on ammo when sighting in too.
Check it out and if you have any question's drop me a note. As an example, friends and I have blown up four inch jars of tannerite at 600 using the BDC reticle and Spot On, sounds like fact of hype and I do not consider myself a top notch shot.

Spot On data

Sent you a IM....   thanks Cmax