Range of Bifrost Bridge is infinite and it can reach all 9 realms. But, it looks useful only with the existence of Heimdall who can see everywhere in 9 realms (good for targeting) and can hear everything from everywhere in the 9 realms (good for taking commands).
What would happen if Heimdall dies in a battle? Would they abandon the Bifrost? Or, would Heimdall's powers be given to new guy?
Also, how did Loki operate the Bifrost in Thor movie? It wasn't like he really operated it, but at least he targeted it to a remote planet. Did he triggered some kind of last target or target history?