I have the Napkin Forever Primina. It has a similar idea- and it only has two problems in my mind. First of all, it is very picky about paper. Secondly, it can be- even on the pen(cil)'s favorite paper, very light shading. I'm saying if the room is too bright, you may not even see the writing on the paper. Overall, though, it doesn't seem to wear down at all and it has never smudged nor gotten on my clothes. That being said, it does really like the white plastic on my laptop (and will easily wash off with a little water!)
If Massdrop brings this in, I'd love to see it in the "Cherry wood" version. Amazon reviews are mixed...sounds like it's similar to pencil, but supposedly won't smudge. Interesting concept none-the-less.