I've been oogling this item for a couple of months. It's quite expensive, the street price in Montreal is $800 CDN plus tax.
But I have to say it does have its advantages. Mainly that you can park drums and things like cymbal stands, and if you're shooting videos, or using a video camera as a recording device, both audio and video, it's almost possible to hide your mics from the image and still get a sound good pick-up.
As an additional point, I find that the playback quality on You-Tube is very close to what I have uploaded -- whereas Metacafe seems to amplify and distort the sound.