Slipbox anyone?

I've just come across Slipbox, a freeware freeform notetaking tool. Looks a bit like a combination of Notational Velocity and Devonthink. Seems interesting but a bit confusing. It also seems like it would need to be filled with content before one could judge the function and helpfulness of its "associative" search capacity -- so I'm wondering if any forum readers have used it and could comment on that.

http://markusguhe.net/slipbox/