No experience with it, but I did see one in the local camera shop when I was buying my tripod last weekend, and seriously considered it (given where I trek, carting around my tripod may not exactly be the best thing in the world).
The only disadvantages I see to it are:
1) the ballhead is *extremely* limited, and pretty small. It might work for a p&s, but I'd be leery of putting my DSLR on something so small (but I'm paranoid)
2) not a lot of diversity in height (that said, most of the photos I take are pretty close to the ground, as is)
That said, I still seriously considered it for a long time (I was probably in the store a good half-an-hour) before deciding on the other. When I first saw it, I went "oh, now that works!"
