True but unfortuanly if you put the custom report in a dashboard and then use the dashboard filter functionality does not work.
So lets say you want to dashboard report on pipeline generation as a whole. Then in your one on one with the rep you want to filter to just their pipeline generation - this does not work. The only solution that I can find is to build a dashboard for each rep.
For the record - this works if you have a calendar year fiscal year and if you use the default reports.