Now this stuff is GOOD. No smoke (at 285°C), stays on the PCB for quite a while, almost no smell at all.

And it already comes with a nozzle. No need to buy another one as I did. The nozzle was horrendously overpriced at close to 2$.

I totally agree with the verdict of the guys at dangerousprototypes. I did a quick test job (TQFP-32 7x7 package) and it just worked nicely. One 'helping' of flux was enough. I didn't have to constantly re-add flux like in case of the FL-88 dispenser pen.