I assume it's still as bad as it was before. It's from dialup age, before people had dedicated routers. There's no reason to develop it further, because who would even use it today? All I know about now is one person who may be possibly intested.
Honestly, I don't even remember if it does dhcp, but it would be logical and expected if it did. There won't be any problem with mac address, it's router mode, so only the one on outside interface will be visible to upstream router. That's unlike with bridge, which works as switch and all mac addresses are visible (and it doen't work well with standard wifi).
In any case, I recommend to use more standard way if possible, i.e. let the router work as router and PC as client behind it. If it's not possible for some reason (router doesn't have big enough antenna for example), this should work too, but it's nothing to be excited about.