I put this powder over foundation, on its own, and as blotting. I will explain my review in those three stages.
First, we will start the review of using this powder as a setting powder. I would NOT recommend this, unless you are using a very light tinted moisturizer, this as a setting powder is cake face x 10. FAIL
Second stage, on its own. This foundation did not act like its liquid counterpart. It stayed on for maybe three hours and did keep the shine away, but didn't stay as long as the liquid formula. FAIL
Blotting and touch ups was our last test... It actually is an amazing touch up powder. Don't use the sponge it comes with, but rather apply it with a fluffy brush. As it kept me matte for a couple of hours, which is perfect for touch up time. SUCCESS
If you had to choose between the two, I would choose the Liquid Foundation, as it performs better for oily skin!