I bought one, and it really wasn't a bad deal. The board is okay, not great but it works well with the LX20. The ADAT and the board are probably the only pieces that you'll use long term though. The compressor that comes with it is virtually useless, I've already replaced it. The reverb has some good sounds, but it's not very flexible.
The advantage to buying it is that you're ready to start recording right away. It gives you all basics except for sound sources and a way to monitor it.
Bottom line is if you need to wait a while before buying higher quality signal processors, it'll give you something to use in the interim. If you decide to buy it just do so knowing that you'll probably be wanting to drop another grand or two in the future.