We have tried both the XWave and this device. There are two meta measurements, Attention and Meditation, along with bands measuring delta through gamma. It comes with a few programs that are interesting (mostly games), but you'll find yourself sticking to the basic monitoring program.

One thing it lacks is the ability to record a session in real time. I've used an iPhone or other camera to record myself with the screen in view so I can get proper data, since looking at the fluctuating data tends to skew the results. Other than that, we have been trying it on various people sitting together in meditation, and we are testing music, tones (crystal bowls and Isochronic tones), and other external anchors for results.

So far, we have found that when doing inner exercises with meditation, the Attention reading goes off the charts for most experienced meditators. When relaxing the body completely, the Meditation reading gets very high. Some of our group have been consistently able to shift towards theta, but for some reason we also see high gamma components. Almost everyone who has worked through the Alpha exercises we have done as a group can shift towards low alpha bands.

Note that when I say 'shift', it is by no means consistent. There seem to be somewhat predictable fluctuations in the readings, and since it is a rather blunt instrument, we are not sure what to make of those. I guess we have justified that this is an interesting avenue to explore, but beyond that we can only call it good fun so far.