We illustrate some salient dispersion properties of the Coifman scaling function based multiresolution time domain (MRTD) technique (Coifman S-MRTD) and discuss its applicability to modeling problems of interest in microwave and wireless communication engineering. Having been recently introduced, this method presents advantages similar to those of the Daubechies-based MRTD, namely highly linear numerical dispersion and finite support of the basis functions involved. It is additionally shown that inherent accuracy-computational complexity trade-offs related to with its dispersion properties can be utilized to accelerate its execution, without compromising its accuracy. Since the Coifman basis function is non-symmetric, the modeling of perfect electric conducting boundaries cannot be pursued via the image theory approach presented in the past. Therefore, a modified approach, along with its computationally efficient implementation, is proposed and validated. Several case studies and comparisons with the conventional finite-difference time-domain method demonstrate the usefulness of Coifman S-MRTD as a time-domain analysis and design tool