So I pre-ordered this during the last BF BF sale last year and it was supposed to be released in Feb2014 IIRC but was delayed till March.
It's basically a smaller sized Privateer Press warmachine bag from Battlefoam, being half the width of the current ones so it pretty much only uses the PP half-tray foams from BF. The bag is slightly taller than the normal warmachine bag though so you can put more halftrays in it than just half the normal warmachine bag.
So you can see there are quite a few pockets in the bag. Most of them are pretty big and deep. There's even a few card pockets in the front of the bag, which are hidden when you completely zip it up. The foam sits pretty nicely in the bag, although be warned, the foams are not square. They're really slightly rectangular so that means they ARE supposed to go into the bag a certain way, otherwise it becomes too tight to fit in properly.
It's actually pretty easy to fit a decent sized army into the bag too. This is what I managed to fit into mine and it's almost most of my 50 point lists. The only thing I need is a way to fit Harbinger into the bag and I could pretty much have most of my 50 point lists in the PP tourney bag already. Partially because most of my 50 point lists include Errants with UA + Reckoner + choir so...yeah, not much variation on that part.
Overall, at least this bag is easier to carry around than my current bags. However, I'm still not that happy with some of BFs foam mostly because it seems that my PP miniatures have way too many odd bits and parts sticking out and it really seems like next time I should just go pluck foam all the way if I don't want to bother customizing my foam. Also, the foam as I've stated before is harder than my KR foam, which can sometimes end up bending my miniatures. I didn't think it was serious but I have a restic Stormblade that has had its sword bent at a slightly weird/curved angle cause of being stuck too long in a battlefoam bag. I can't even bend it back using hot water cause it's already been painted and I'm not sure what that would do to the paintjob.