I have the larger version of this and just recently hooked it up.
I love it!
This is great for anyone who doesn't have space for a sump/fuge.
It only takes up 4-5" behind the tank. You will need to buy a pump, but you want a lower flow pump like a MJ 400-600, so its not a very expensive investment. And as far as lighting goes, since its for a fuge, a cheap normal Fluro fixture would be perfect for growing algae.
Here is a pic of mine before I put it on the tank.