DD-WRT - Does it vastly improve your routers functions?

I have been looking for things like time blocking and device blocking and all kinds of things. I was talking to someone and they said buy a DD-WRT compatible router, flash this to it, and you can set allowances based on time, you can block URLs and you can log activity. All the things I wanted to do that I could not find an all in one solution (because some devices are android, some are consoles, some are PCs, some are smart TVs, and so on).

Is this really the golden egg I was looking for? Who has had experience with DD-WRT and their home router? Just wanted to see how people feel about this as a solution.