Got mine yesterday, just two days after the email saying it was shipped.
Very small and light. Looks very well made.
My primary reason for getting it was to get the bike up if I dropped it, or get it out of a stuck position. Since I didn't feel like dropping the bike just to test it out, I resorted to the simple test we use for rigging Z-Drags for boating which is to attach it to the ceiling in my garage and my climbing harness and see if I can lift myself off the ground (yes, I realize that violates at least two of the safety precautions).
It rigged easily and had no problem lifting my weight off the ground with pretty minimal effort. The attachment holes are well machined and very smooth so no risk of cutting whatever rope/strap you want to run through it. A standard climbing caribiner will fit through the hole, but depending on the biner shape, it won't rotate all the way through since the bend in the biner has too sharp a radius for the width of the hole.
The spectra cord is more than long enough and strong enough for lifting the bike up or pulling it out of a hole. The spectra line is very thin and stiff however, so it wants to tangle easily. The biggest drawback I see is that the cord is so thin, it is difficult to get a good grip. They include a dowel which definitly helps, but it cannot be reset under tension. This means you can get your initial pull easily, but if you need to regrab the line farther up you might have problems. I might need to see if a clam cleat like winsurfers use might work.
Something like this:
In all, I'm pleased with the system and I'm adding it to the gear I carry on trips.