Joined on 12/31/10
Pros: These were briefly on sale for $100. At that price, even with the modest performance numbers, there is a lot of potential uses for having more stuff available on the network, and we bought five (four to use plus a spare). These work with the Hitachi 4TB disks, so you can cram up to 8TB in a little package. Loaded with two 7200RPM drives, power draw is around 25 watts. In RAID1, read speeds seem to peak out in the area of 50MBytes/sec sequential, writes are an abysmal 20MBytes/sec, but for many applications, where speed isn't critical, these aren't bad. They do sport a rich feature set, at least given the price. The units seem to work with any 3.5" drives we've tried, from 80GB to 4TB, despite both extremes being well outside the supported sizes.
Cons: Relatively poor support by iomega, be prepared for frontline tech support to blame any problems you encounter on not using the iomega "approved" drives, and beware that you're dealing with outsourced tech support. We did run into some broken features, and eventually iomega coughed up a new firmware release (22.214.171.12408) that has to be downloaded from their support website. There are some things that still don't seem to work right, such as iSCSI Mutual CHAP, or AFP refusing to turn on even though the portal shows it on and the event log shows it on (rebooting the unit got it to actually turn on). The units do not work with 2.5" drives due to the design of the drive "caddy" which is actually just a three sided plastic thingy that clips onto your 3.5" drive.
Overall Review: I have some concerns about the power supply. It's a 12V/3A supply (about 36 watts peak), and it runs warm when running most any pair of drives we've tried. The unit seems to have been rushed out the door a bit. The shipping firmware refers to the unit as the "ix2-ng" and shows a 1U 4-drive rackmount unit in the status display, and there are lots of similar bits of polish that are missing. Some are fixed in 24208. Problem alerts seem to be exclusively via e-mail (or logging in via web). The front panel LED flashes too, but it seems to flash for a variety of not-really-a-problem things, like when it is initializing RAID1. For a hundred bucks, it is far more awesome and useful than your average external USB enclosure. For a hundred seventy bucks, it is probably not a great NAS, but not a complete waste of money.