I got mine yesterday from a fellow local brewer who wasn't going to use it. My racking arm looks completely different than this one! The o-rings on mine don't go on the racking tube, they are on the inside of the part the racking tube goes into... Also, none of the o-rings on mine are silicone, they are black (I am assuming nitrile?)
Overall, I am very pleased with the design... The new thicker lid gasket definitely provides a better seal; in fact, the lid bows just a little bit around the clamps with the new gasket.
Like the others, I plan on attaching a short piece of silicone tubing to the end of the racking arm.
I'm looking forward to getting a beer in this thing. I just have to wait until it gets a little warmer outside to brew!