All, I believe it's legit. I was also curious, and ordered some. I did a controlled experiment of my own. Not overly scientific, but still it was controlled.
Here's what I did:
One metal plate treated with Nansulate (3 coats), one uncoated.
I used an equidistant stand for both metal plates, above the same candle flame.
Placed one robust size droplet of water on the plate and waited until the heat had evaporated almost all of the drop.
Untreated plate took 85 seconds.
Treated plate took approx. 130 seconds.
I repeated the experiment, as I know the water droplets could have varied a bit in size, etc. SAME RESULT (give or take a few seconds).
Read the testimonials on the website, and watch the video. I was a bit skeptical, but my experiment had very similar results to what you'll see in the video on the website. I'm no bullshyter, I assure you.
Hence, I added/bought shares of this company. Sales are growing quite nicely (although still operating at a loss).
They also just launched an epoxy version, which is more suited to industry and OEM processes. Full lab testing data will be posted to their website this month (May 2008).
link
Feel free to respond. I'm "somewhat" knowledgeable about this company and product(s). I can also direct you to a better source of information if anyone is curious. FYI, PlaceMakers retail chain in New Zealand (similar to their version of home depot) is offering Nansulate now also. I verified this myself via PlaceMakers corporate office buyer who gave me the product names and SKU #.
NOTE: I've followed this company for a couple of years now, and trust me... myself and others have had our skeptical/scam glasses on. That's part of why I ordered some and tried it for myself. It works. Just also had my wooden beam ceilings coated as well, since the roof above doesn't have a space below it for any insulation.