Okay, so maybe I'm a little guilty of being a guitar snob. But that doesn't depreciate my enjoyment of cool and funky and budget conscious! I received a music store gift certificate for my birthday, and I went with the intention of stocking up on strings and such. But then I found this:





So far I'm just using Open G, but as stacked triads (GBDGBD). This thing screams! The wiring is also very cool; instead of a Tone knob the second pot is like a "coil-blend" knob - Counterclockwise it's in Single Coil mode, Clockwise it's in Humbucker mode. The shades in between are pretty dramatic too.
These are entirely plastic (I suppose) - it actually weighs less than anything else that I own. These are made to be played standing up, and come with a "Y-Strap" to allow you to do just that. I'm having SO much fun with this, even though my right hand fingertips are pretty much raw. (I'm sure that building up callouses will help both my Nylon and Bass playing; I don't do enough of either to keep my right hand conditioned.) There's a LOT more to right-hand muting than I anticipated, but I am getting the hang of it. And this thing has kept me grinning from ear to ear! 
Can't this be played as a regular lap steel too?
If you tune to open G can't you just kind of play bar chords and slide from chord to chord?
I thought these were pretty cool too and considered getting one for my studio but I wasn't sure how easy they are to play just basic steel guitar licks.
This is made of wood isn't it?
I prefer playing it as a lapsteel. Wearing it on the strap makes it difficult for me to get much higher than the 12th position. Most recently I used it on Dancing Days, tuned Open G as DBDGBD; being a 6-stringer there's no real "learning curve". IF you know how to properly do left and right-hand muting for slide that is...
Peavey's videos show that it's Mahogany, but I can assure you that mine is plastic. And it weighs far too little to have anything to do with Mahogany.
The Power Slide is cool, and I think it's cool that it's coming from Peavey. A month or so ago I saw an ad for what I remember as a Power Slide bass, which was also very cool.
Evan