There is a long Laseractive discussion thread on this site, quite a few of us like the system and I'd hardly call it a POS. Between being able to conveniently play all Genesis, MD, PC-E, and TG16 games (with the right hardware), the interesting LA software, and the ability to play LD movies / karaoke; the system is pretty f*cking rad.
Play around with it some more, pick up Dr. Paolo and play with yourself some more, then come back and give an updated impression.