pulling the sounds out and creating new files from them, but any kind of metadata work or processing I would leave to Wave Agent and pro tools. Getting back to your question, I would say yes it is much quicker for editing raw sound data, e.g. It has a habit of crashing and the standard plugins don't sound good. However having said all that I am not a great fan of the software. I have never really come across a decent alternative that can do all the things that SF can do, especially in the ability to open view and edit multiple single files at a time. I also know alot of people who use it for batch dialogue editing and processing for games. Looping sounds in SF is also pretty nice. a 2 minute file of whoosh sounds, SF is a great place to sample accurately edit before putting them in game. It's great for seeing if all you individual footstep sounds or explosions have a similar RMS and tonal constancy, and making tweaks and edits after bouncing from your DAW before putting in game.

The reason being that you can play, edit, compare and master multiple single files, either individually or as a batch. I use soundforge quite alot, AFAIK it's a pretty common tool in game sound design.

Sony sound forge