Folding Bikes - 2008 Schwinn Loop, new folder entering the game?

Like their release of a line of electric bikes it also now appears they're getting into the folding market.

http://ecx.images-amazon.com/images/I/51GgnxzbJvL._SL500_AA280_.jpg

$219 on Amazon (http://www.amazon.com/Schwinn-Loop-7-Speed-Folding-Bike/dp/B000Y2PRTI)

Features:
* Alloy Super Low Stand-Over Folding Frame
* Built in rear carrier, fenders, alloy rims
* Heavy gauge nylon carry bag included
* Alloy front and rear linear pull brakes
* 20" alloy rims and city tires

I can't find any information on it from the Schwinn website but there is one on YouTube that has a review (though they don't offer much information). (http://video.aol.com/video-detail/review-schwinn-loop-s02e01/87342220) Stores like Sports Authority and Dicks Sporting Goods are showing the bike on their websites as well. I'm curious to take a look to check its build quality in person this weekend if I can happen to find one locally.

Has anyone had any hands on or seen these locally yet? The price point isn't too bad and it has a little more radical design than your typical straight bar. The built in rear rack looks very sturdy as well. Would prefer something like this in black, though a can of spray paint could tackle that job quickly.

Front mudguard looks a bit close.

The brake placement is interesting. the rack looks sturdy.The wheels look dodgy .I think a full spoke count would be better for durability.I like the opening music on the you tube video.I think it is from TJ Hooker.The gearing is a bit on the low side as stated in the video and in evidence by the size of the front chainring.Good luck ,hot rodding this one with a derailluer though you could always fit a double chainring and shift the chain over by hand if need be.I would like to know how stiff it is( the frame).The video was not for Those true believers of the fold but the layperson so of course the question was not addressed.

The Loop isn't new, it has been out for a while but mainly in Asian markets. For some odd reason it hasn't been listed on their website. The design is reminiscent of the ubiquitous U-frame folders from the 70's with the chainstays flowing up to form an integrated rear rack. Interesting reduced spoke wheels though.

I like the rear rack because it looks like a part of the frame. Very strong even for commuting purposes!