I had a chance to stop by Woodcraft the other day, and checked out the Kreg Adaptive Cutting System with a friend of mine who works there. We didn't get to fire it up, but I was able to inspect and handle it as much as I wanted. Here are my initial impressions, in no particular order.
The build quality of the saw and track appears comparable to my Makita, and also to the Festool unit on display there.
The track is NOT compatible with Festool, Makita, and Triton saws. It is very similar, but the width dimensions are different.
I really like the stand. It seems quite sturdy, and the ability to fold it up and roll it away on buit-in wheels is very nice.
The dogs are nice anodized aluminum -- not at all like the cheap plastic ones that came with my Kreg "Mobile Project Center".
The molded plastic parts of the rip gauges and miter gauge looked a little cheesy to me.
The table system is designed such that the kerf line is always in the same place on the table -- parallel to and near the front edge of the table. In some ways this is nice, but it means that a long workpiece may need to stick out past the table at almost any orientation, depending on the cut. So it has the same problem as a table saw -- the required working footprint could be huge, unless you rotate the whole table to match the cut angle.
The rail-support hinges are a neat idea, but they are not implemented with precision parts. They have a little bit of fore-aft slop, which will degrade cut-line repeatability.
The two rip guides run in T-slots embedded in the tabletop, and they are fairly close together. Each T-slot has two plastic scales, that you must slide in their tracks to calibrate the narrow and wide rip widths (using a tape measure, per Kreg). Kreg's recommended rip-width setting procedure is then to simply position each rip guide to the desired position on it's scale. Based on the relatively crude rip-guide setting procedure, and on the short distance between the rip guides, I expect that workpieces will tend to have significant taper error. Whether that's a problem depends on your accuracy requirements.
As for competing with Festool, judging from the video below it appears that Kreg is targeting the opposite end of the market -- new woodworkers. Sample tip: when you're building stuff from construction lumber, seams will look better if you straight-line rip the board edges before butting them together.
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https://www.youtube.com/watch?v=D2nQJW7y6MY[/youtube]