While registry cleaners in general do nothing of any value. There is some (very miniscule) validity to a very select few.
First off, the registry hives for windows (%WinDir%\system32\config\{COMPONENTS,DEFAULT,SAM,SECURITY,SOFTWARE,SYSTEM}) are all read into memory and synced to disk as they change. Memory reads are several orders of magnitude faster than disk reads, so you won't gain any performance from a cleaner.
Invalid entries in the registry that can be detected programmatically and safely deleted by such a cleaner aren't going to gain any performance or reliability as Windows NT is coded specifically to handle invalid entries very gracefully. Any entries that could actually impede performance or reliability are far to dangerous to remove/edit for any registry cleaner (with respect to target userbase) to manage.
Now where there is validity, is in the hypothetical situation where a professional, or savvy amateur utilizes the tool to find misconfigured keys that cause problems. This situation is purely hypothetical though because there are far more useful tools that such would employ.
I however have found a registry "cleaner", actually not their "cleaner" but their "registry defragger', which is also misleading terminology, as registry hives can't become fragmented. (Fragmentation is an issue at a much lower level than the registry, the filesystem and physical layer)
This tool is found in the "Windows 7 Manager" and "Windows 8 Manager" by yamicsoft.
The "defragger" essentially locks down the gui of the computer, and from what I understand rebuilds the entire registry. Something I feel could just be deceitful misleading terminology again, but it's my best interpretation of their explanation.
I benchmarked both a windows 7, and windows 8.1 machine after running the tool, and actually found a bit of a performance increase in some minor but key areas that would benefit from such a procedure.
The benefits were however short lived as they disappeared within a day or so of light use, so as all have said, stay away from registry cleaners and the like. Only a learned individual can manipulate the registry properly.