Hubless Fly Reel?

What is this I hear? There is a new reel in the neighborhood. The spool rotates inside the housing on bearings with no need for an internal hub. Looks like a cool concept. The Psaros Trout II is made in Sweden. I am very proud of my Swedish ancestry so I decided to pass this item along. Check out the reel at http://www.psarosflyfishing.com/.