Its application goes well beyond the annotation of corpora: in fact, it was also adopted for the Abstract Meaning Representation (Banarescu et al., 2013), a semantic language that aims at abstracting away from cross-lingual syntactic idiosyncrasies, and NomBank (Meyers et al., 2004), a resource which provides argument structures for nouns.
propBank's major drawback is that its roles do not explicitly mark the type of semantic relation with the verb, instead they just enumerate the arguments (i.e., Arg0, Arg1, etc.).