I apologize to vobla for messing up his topic with my stupid question  
Are you kidding? As long as it's not an offtopic I am happy to see people discussing.
Thank you very much for your answers 

EDIT: I was playing around with values and here's something aqward I found while taking these steps:
+ create the cube;
+ convert to subdivided;
+ select all edges and set to round;
Results:
+ Round lvl 1 result - pic 1; 
+ lvl2 and 3 results - pic 2; 

+ lvl 4 results - pic 3;
+ lvl 5, 6, 7 results - pic 4.
Everything looks fine and explainable except round lvl 2 and 3 results 

ONE MORE EDIT: Hmm.. seems that you can see the difference when applying higher division values, but anyway, these results still look strange to me.
AND EVEN MODE: When you set all edges to creased (taking above mentioned steps), cube transforms in to a perfectly smoothed ball 
 
 Since I am modeling houses, I need most of edges to be creased and/or slightly rounded..