Product review (4 stars): Great concept, soft material. Doesn't save any space.
The magnet is strong. Works great when pushing the dryer back without seeing where it goes. This setup allowed me to run a solid duct outside and the flexible section on the ring fully folds after it is backed up. This gives me a solid rigid connection with out folds catching the lint. I originally purchased this in the hopes of saving space behind the dryer since our dryer is deeper than the washer from the same series.

Pulling out the dryer down the road will be much easier. The magnet is strong, so you want the 90 angle attached to a wall otherwise you will pull the whole thing out. My only issue with this is that it doesn't save any space and the metal is rather flimsy. One edge was dented in shipping and I was able to bend the housing with my fingers when attaching a rigid duct to it.