Why this partial mash system is not worth it:
1) You could make the exact same thing for at least half the price.
2) It's very small, and won't be big enough if you ever decide to go AG.
3) DeathBrewer's system is cheaper and way easier. And you don't need another 5 gallon pot - when I did PM, I mashed in a 3.5 gallon stock pot I had sitting around.
4) If you don't have another pot, all you need to do is buy a cheap cooler (~$10). You can then use a paint strainer bag to mash in the cooler (and don't have to modify that cooler in any way to do so)!
5) Fancy systems don't, generally, make beer that tastes any better than simple systems used well. Much better, IMO, to start small and simple, really learn the process, then move up from there. It'll pay dividends in the long run.