This may already be common knowledge, but the lead designer for the Quickrstuff rack was one of the designers for the original 1UP. He and the rest of the company apparently split on bad terms. From what I have seen since, I am guessing he was the design genius, but not much of a business guy. He floundered around trying to launch this Mach2 for a long time and then disappeared. I assume Quickrstuff formed when he teamed up with some folks with business and/or production expertise.
I wish this company well. I just hope they can make the business work. Like prj71 points out, it really does address every possible shortcoming of the 1UP, and (assuming it holds up over time) is hands down the best rack on the market.... by a long shot, IMO.