This is a very interesting option for handling incoming email from a personal domain or two (especially since it's from an established company, rather than a random individuals's email forwarding service :)
Does Cloudflare have any options for handling outgoing email? If not, I assume you still have to set up your actual email host in a way that can send through all the vanity domains, with appropriate DKIM records, etc.
If you were to use free Gmail, this allows you to send via other email addresses (so you could forward youremail@yourdomain.com to your Gmail and send emails as coming from that email address). See https://support.google.com/mail/answer/22370?hl=en
Can that completely hide that real sender (me@gmail.com) without setting up a SMTP server? Seeing "me@gmail.com on behalf of me@example.com" or ending up in spam would be a deal breaker.