WEll, it did (improve the effectiveness of SU meditation) for me, but this one of those "YMMV" issues. I did some things to open up the hips, and I also tried some enzymes that helped me. But it has been well worth it.
You can try starting with one of the easier cross-legged postures, and other sitting meditation postures and working your way up. I have found that the so-called "Burmese" sitting posture, helped me when I could not (and sometimes when I still cannot for various reasons) get into Lotus position. This is a position where the legs are folded in front of you, but NOT crossed. Seiza (Japanese kneeling/sitting) position is also good and helps prepare for Lotus. And of course, there is half-Lotus, which if you alternate, will also prepare you for Full Lotus.
Hope this helps.