I don't have a nuwave, but I do have a Jetstream which is the same principal w/o the light bulb. Mine actually cooks relatively quick, will wash in the DW, but takes up the whole machine. Egg rolls and other items that are usually fried come out perfect w/o the added oil.
If you like gadgets, and If you can get it cheap, I'd say go for it. I got my at a sale new in box for $25 about five years ago.