One thing to look out for with the NLS is the pellet size. I bought the regular community formula and they were too big for my Neon Tetras to eat. I haven't made it back to the store yet to try and get the small fish formula...so for now they're making do.
I feed my fish probably 5 days out of the week, and before trying the NLS "exclusive" diet I would feed frozen bloodworms once a week.
I know a lot of people argue that fish naturally eat several tiny meals throughout the day...but with the number of fish I have it's just too difficult to only add a tiny portion and make sure everyone eats. I have to feed them all at once with a couple days off. It's better to underfeed than to overfeed (I'd bet 90% of fish owners overfeed their fish).
Some fish are nocturnal like Corys, Plecos, etc... I feed my fish in the evening normally, but after lights out I'll drop in a wafer or two for my Panda Corys to munch on after dark.