Product review (5 stars): Awesome if a bit clumsy
This is great if you have a top load washer or the wonder washer.  If you have a front loader, it isn't of much help as those tend to extract water pretty well themselves.  My husband and I bought it for a second residence and I just loved it.  I used the wonder washer or a coin op top loader and then ran the clothes in this thing.  I really does a good job of extracting the water.
You have to be a conscientious person about balancing it though.  It does get out of balance very easy and you have to work with it a little.  I solved the issue by adding one item at a time, spinning till I was sure it was in balance, and then adding another item until it was full.  Then I would let it run for 10 minutes even though the instructions say 5.
It really did get the clothes nearly dry even if it was a bit of a trick to get it into balance.  I would then hang my clothes or even iron them dry right out of the spinner.  I would buy this again.