Okay. Finally got to give it a whirl. The rig I built has both positives and negatives.
The issue is the size. I built it small for a couple reasons. Reason #1 was just the logistics (and affordability) of transporting it to the shoot. I live in Richmond, VA. The shoot was in Atlanta, GA. So, I wanted something small enough to pack in my airline luggage. Mission accomplished.
Reason #2 (perhaps more important) is that I wanted something I could do handheld. A couple of you mentioned that if I modified it, I could use it like a fig-rig. No modifications necessary. It's small enough that I can hold the outside, and it's a very steady fig-rig (the footage linked below is supported by none other than yours truly - you can see that I occasionally drift out of the green screen).
The downside to the small size, if you're using DSLR, is pretty big, though. My camera kept getting hot. I had to unplug the lights in-between every take, and had to let the camera rest quite often. The close proximity of the lights to the camera is definitely not recommended.
So, unless you have a similar situation, in which you need to transport your ring-light via airline checked-baggage, I recommend a larger rig to give your DSLR plenty of breathing-space. And then, since you lose the natural fig-rig nature of it, a couple handles might help.
Anyway, without further ado:
The green-screen is lit by 4 250W construction lights. Ring light is 8 60W bulbs.
http://vimeo.com/21426186
PW: indietalk