waypoint writing assessment software?

Has anyone used waypoint (www.gowaypoint.com)? It's an online
assessment tool...like an interactive rubric for evaluating writing.

I've been checking it out for our program but would like to hear some
opinions...whether students like having printed feedback (rather than
handwritten) and whether the competency-based assessment is any good.
We're particularly interested in the ability to recall previously
written comments using the 'history' feature...to make our students
more accountable for the feedback we give them.

Most of all, does it save you time grading papers? My colleague put me
onto it and she swears she grades 10% faster (this is a person who
believes in giving detailed comments to students).

I think there's a peer review feature too, but I haven't tried it.

Thanks for any help.

Sammy