I am always interested in a better mouse trap for dust collection. This thing looks very cool, but I am doubtful it is truly better than a competing dust collector, with the exception of noise and size.
It's hard to know how this will truly perform because there's not enough data provided. Many dust collector vendors provide a graph, showing a range of CFM vs. static pressure, and with that, and knowing the length of pipes, bends, etc. you can estimate the actual CFM. With this, they only provide CFM for a "hose" -how long is the hose? BTW, their 6" hose CFM comes to 764. I measured my CFM at the end of my pipe run (about 35 feet) at 1100 (Clear Vue cyclone)
More on the CFM: they have a 11.8" impeller and use 1500watts. There's only so much CFM that you can get out of something like that, and be durable (be able to take a hit by a chunk of wood and the blades survive).
5 microns is not good enough for a standard filter, not even close. How much is the HEPA upgrade? I wonder how much the CFM drops with the HEPA filter.
This solution boils down to a 2-stage cyclone, first stage for big chips and second for dust. You can do this by using both a trash-can separator and a standard cyclone. This product's low noise, and small size, however, could be a big advantage for someone.