I've just started dabbling with this. Basically they come in many forms. Macro flashes are obviously very good for macro work, but seem to both only mount to macro lenses, and also provide a very small catchlight, if that's what you're after for portraits. You then get the studio flashes which are fantastic, but rigidly mounted to a lighting stand and not so portable. They're also very expensive.
Away from that, you get the flash modifiers, that sit in between. They basically stick on the end of a flash gun and alter your flash into a ring, and that's what I've bought. I plumped for an Orbis, cheap as chips and the light it produces is fantastic. Only downside to that model is that if you want to be mobile and handhold it, and your camera, you need three hands. A bracket to mount it and the flashgun to the camera is definitely needed, and they're working on one. Til then, it's DIY time.
I've found personally, with the small amount of messing about I've done, that they work well with a bigger gap between ambient light and the output of the flash/ring.
Here's one from my tests this afternoon. You'll have to excuse me looking rough as a dog. 
