yeah it's good for regular serial port too, on windows.
For Linux etc. I typically use 'cu' or my own program [which is open source and can be searched for if you're interested, also works in windows last I checked]. But for windows there used to be a decent terminal program built in [hyperterminal] but it stopped being included either in XP or Vista. And, of course, there was no ssh support as I recall.
I can't recall what Cygwin has for a terminal program. Maybe it works, maybe it doesn't. I generally don't do serial port things from windows anyway.
(using serial comms programatically in windows is unnecessarily painful, and I've been doing it since Win '98 and NT 4, starting with this one customer project that used TAPI to dial into remote devices and download data from them, etc.)