Executive summary: an almost useless gimmick.
I'm interested in anything that might improve my short game, and these wedge hybrids looked interesting but I couldn't find anywhere I could try them out. I saw an advert for them that said 'love it or return it', called the UK distributor to confirm that offer applies to the UK (it does) and ordered a 60 degree lob wedge.
I already have a 60 degree Cleveland CG15 with a 14 deg bounce which I use to get out of sand, and a 64 deg low bounce wedge I use to put it up over bunkers.
Off the turf the hybrid wedge was at least as hard to hit properly as the standard wedges. Fat shots - the sort that this wedge is supposed to help with - were just as fat as usual and something about the look at address does not inspire confidence.
Out of the sand they are pretty good. The sand in the bunker I was testing was light and fluffy and deep and with a slightly adjusted technique - going under the ball a bit deeper - I was getting out every time.
On balance this wedge is no better than my existing wedges which between them cost less than half the £109 I paid for the hybrid.