I took it out a couple of times this summer for rowing and it rows very well. As the boat to which it belongs is going to be on the hard all summer, I expect I'll be sailing it properly and I'll report here on how it goes.
The weight isn't huge, but it's not trivial, either. You'll want the mast to act as a crane to get it on deck. However, once "nested", it is indeed very compact.
My second dinghy is a 10' Portabote and I took that out into Lake Ontario in approximately 15 knots/2 foot waves and into a river outlet (3 foot waves!) with a 2 HP Honda four-stroke. That also rows well and powers better than I thought (about 4.5 knots SOG on GPS and 3.8 knots into the wind). The nesting dinghy is for rowing, single-handing and sailing (the sail kit is quite large, so I expect proper sailing), while the Portabote is for "cargo" as its capacity is slightly greater and its internal volume much greater. Also, frankly, if I drop stuff or spill stuff in it, it's not a tragedy.
I have more "experimenting" to do, but from the space saving aspect, the nesting and folding dinghies are a success from the ease of assembly aspect, and the flexibility aspect (my wife and I can leave the boat at anchor separately for trips ashore), it's good.
Here's some pictures of the Portabote at dock and on deck, plus pictures of the nesting dinghy in my garage.