If that is the only purpose, then I have to say that in my case, verbalization serves to interfere and disrupt more than anything.
It's sort of like taking dictation of someone talking about something and stopping them constantly to allow you to write it down. And then, maybe, asking questions, "Did you mean read r-e-a-d or reed r-e-e-d?" Which further interrupts trains of thought, sometimes derailing them completely.
If there is no linkage between verbal and visual systems going on in terms of the IQ benefit, then I think making up nonesense words is perfect for me, because I can just babble with words that sound and feel right and it doesn't slow down or interrupt things too much.