The application of the magnetically insulated baffled probe (MIBP) and MIBP cluster for studying properties of low-temperature and peripheral fusion plasmas is reviewed. MIBP operation principles, MIBP design strategy, and MIBP examples of measurement, data analysis, and interpretation are discussed. The implementation convenience and diagnostic usefulness, as well as the inconvenience and drawbacks, for studying plasma equilibrium and dynamics properties, are demonstrated. MIBP determination of oscillations of fluid observables, such as electron and ion temperatures, electrostatic plasma potential, and electron and ion density reveal plasma instabilities and waves. Ion and electron distribution functions, and the transport of charged-particle number, momentum, and energy can also be measured.