The New Balance Life Trainer

I have an Oregon scientific HRM that I got free from work but I really don't think it is very accurate as far as calories burned. It reads less then half of what the elliptical tells me and 200-300 less then what my old HRM used to record. So I was looking to invest in a Polar FT4 when I ran across the New Balance Life Trainer. Seems like an awesome concept but wanted some opinions. Anyone used it? What do you think?

http://www.amazon.com/New-Balance-Trainer-Calorie-Monitor/dp/B00BIBCD3M