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Well, Yes, they work, but ...
they are a bit clunky, and can be temperamental at times.
I have one but haven't used it for a while (you can have it for $100pp).
I used it a bit when they first came out and enjoyed it, but now I tend to use a Smart Phone (with built in GPS) and Google Sky to locate or to identify stuff.
You know its not magnified, right? So its a bit like looking through a toilet roll. It will point you in the right direction (once aligned correctly). And it does have additional information etc.
It seems to work best in an open field type environment, where it can "see" many GPS Satellites. Not sure how that would go from a balcony, but I would anticipate issues with that.
I also have the sky connect to allow it to control a (Celestron) non GPS motorised telescope, which again is a little clunky, but very geeky.
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