A similar concept was used in the anime Code Geass.
I'd say that it would be most helpful for novices or people who have never played chess. For higher-level players that can already see the thought behind moves, the ability to read minds wouldn't be as benificial for chess.
I saw this concept in "The Rolling Stones" by Robert Heinlein, published 1952. The youngest kid kept beating Grandma (both being skilled players but Grandma better) at chess because he could see what she was thinking. He didn't like to play her (via radio, etc) when she was not there even if she was playing without sight of the board as it was much harder, if even possible, to win.
In WC play, Spassky was asked after his first WC match, which he lost, how many of his opponents moves he foresaw. The answer was very few. After the second match, against the same opponent, the answer was most of them. The results speak for themselves.
Bonus question: Against whom did Spassky play two World Championship matches? Anyone who cites Sarajevo and Fischer may leave now.
When I was about 11 or 12 I saw a episode of x-files where a kid won against grandmasters in chess because he could read their mind but he wouldn't play against a simple chess computer because he wouldn't be able to win.
This have been stuck in my head since then. Would you be able to beat people that's much better than you if you could read their minds? I feel that when I'm playing against a good chess player I already know his or her thoughts behind the moves so I don't think it would help alot.
Any thoughts on this? It's been bugging me for years now.