I got my Safeguard and did some low and slow practice maneuvers using a throw hook/lanyard.
1st impression was that the moving parts rattle around a bit when unweighted. When lightly weighted, pushing down inadvertently or intentionally on the cam releases the climbing line, allowing it to slide freely in a bidirectional way. This helps when tending, but raises concerns as far as it being able to slip on the rope when inadvertently or intentionally unweighted. When properly engaged and weighted, it performs very well, as expected. I really like the compactness and the range and the feel of the metal lever. The shorter (90 degree) distance on the arm's reach, makes it easier to dial into the sweet spot. While I have not yet used this as a primary rappelling device, it seems to perform much like the GriGri and it can be a bit jerky when it initially releases the climbing line, making it all the more important to retain control with your breaking hand. The orientation of the lever makes it align in a more user friendly way than the GriGri, as well. It seemed to work well on my 1/2" Vortex and 7/16" HTP Static, even though the 1/2" slightly exceeds the recommended rope size. The device also tends much like the GriGri, and performs well in a 3:1 Rad configuration.
The Safeguard will most likely replace my GriGri2, as a multicender on my DMM Captain lanyard, for the main reason that it's all metal, slightly lighter and smaller than the GriGri, and it seems to be as good as the Cinch, while working effectively on a 8.9mm to 11mm size range of climbing lines.
The low cost in comparison to similar devices is compelling, but the device may not be as ruggedly built it and may tend to wear out sooner. I feel confident using this as a lanyard adjuster, in both a SRS and MRS, but I would not feel comfortable using this device solely as a primary multicending device, like the HH, RR, RW, or Uni. If asked whether an existing GriGri or Cinch owner might be compelled to buy the Safeguard as a replacement, probably not, unless it's time to upgrade a similar worn out device, in which case, the Safeguard is a strong contender, IMHO.