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Hmm, well, Checkinstall is simpler than using an editor to create a PKGBUILD, but can we use Checkinstall itself to create a PKGBUILD?
While it probably is simpler to use Checkinstall for personal use, once you wish to contribute back, you're in a bit of a trouble. Checkinstall might be able to create the package nicely, and maybe even use namcap to automatically add dependency info (does checkinstall add dependency info to RPM/DEB? I only used it with Slackware). Putting the possibility of dependency bloat aside - how can a package made with checkinstall be shared back to the community?
No one has any idea how it is built, and since Arch's repositories are based on PKGBUILDs, well, it's a bit of a problem. More so, these packages can't really be "trusted", because again we lose the information about the way it is built.
If I made any mistakes here, please fill me in, as I am not a checkinstall expert.