I actually got a chance to do this machine at the Luxor in Las Vegas. $50 and a few pages of color print-out later, I got the official results. Before I tell you, let me state that this was the quickest test ever. They put this device on the top of your dominant bicep. Right in the middle. I guess it's sending out a beam of light.

2 seconds later, it's over and the results are in. There's no feeling at all. Nothing.
20.1% body fat is what it reported. Which is average for a male.
At first I was bummed. My own caliper tests showed 15.7%. But that's only a single spot pinch test. And it's not the most accurate either.
I also don't do any cardio.
Things are gonna change.
Anyway, just wanted to let you know I actually got this test done. Quick, painless, one tiny little wand, on the bicep, done, and a print-out. I think it took more time to enter the stats into the device then it did to get the reading.