Well, it works and works well!
I pulled a bunch of fake shots using my puck simulator (a blind filter basket with a hole drilled that is quite similar to the Decent drilled blank baskets which I have as well) to get the hang of it.
The lever moves effortlessly - smooth all the way up and down when there is no puck. You can move it upwards with one pinky. The water starts to flow into the cylinder when the lever is around 45 degrees above horizontal and the holes fully open with a bit more movement. The lever gently falls into the locked up position, if you keep the lever going up. Because the lever moves so smoothly and easily it is trivial to stay near the water holes to control the flow rate into the cylinder.
I pulled my normal two shots (an hour or so apart) and found the results to be very similar to my normal shots. I was not particularly surprised but it was good to see that the machine is still very consistent. It is a hassle to switch the lever assemblies so direct shot comparison takes a bit of effort and time so I am not planning on doing that any time soon.
The manual lever workflow is a little different from using the spring starting at the time when you start the lever downward. You have to pull it down through the whole shot. (Duh, Curtis, isn't that what you were going for? he says to himself

). The biggest difference is that right before the shot hits the weight you want you quickly but gently let the lever up and do the cup swap to end the shot. Then you need to hold the lever down to purge the rest of the water out of the group. This is like learning a new dance step so it is still uncomfortable but I am sure it would become second nature pretty quickly.
As with any manual lever the amount of pressure you need depends on the coffee puck. The heft of the machine and the sturdiness of the group made it feel quite a bit safer than any manual lever I have ever used. I could pull with just one hand but I found that using two hands, locking my arms, and letting my weight do the work by bending/leaning/squatting down during the pull was both very comfortable and easy to control the pressure and ultimately the flow. My machine sits on a higher than normal kitchen counter and that really works well for this.
So, the question is why do this? The answer is that it seems easier to control the pressure/flow when pulling down than either pushing or retarding a spring lever. Matching this with the naked portafilter pressure gauge and profiler seems like a real winner if you are into manual levers. You could choose a Bosco, Profitec, Londinium, Salvatore, or any machine that uses a similar group so you get the manual lever of your dreams!
My plan is to use this as my daily driver for a week or two to see whether I like it.