Cool design, yes.
New, definitely not.
The "sail-safe" ball and key system (that I purchased from Murray's Marine at least 15 years ago), worked great. I still have a complete set of 4 in my basement but stopped using it because they stopped making it. Also, crew would always show up with a hook and we would waste too much time switching the buckles. I've always liked it and was wishing someone would bring it back. It's especially nice when you have to climb onto your boat from the water - you don't have to worry about poking a hole or scratching your boat with those metal hooks! I never fell off or had a problem with it. many of us in our fleet loved this system. I'm glad it's back.