We've used it just as I mentioned; on top of the slab and under either backer or plywood. It worked beautifully in both cases when compared to no insulation at all and looking for minimal floor height buildup.
We do a lot of work in NYC where the existing structures are concrete and have little or no room for buildup. We install it wherever we can. We tested it in our warehouse in the exact application they did on their site and got almost exactly the same results.