My wife and I both love the results. It comes with 2 filters, which last for about 10 batches each. Each batch takes 12-24 hours in produce in the fridge. We consume it in about a week.
The downside to the Toddy is that it is basically a carafe with a big plastic bucket. When done brewing, you put the carafe in the fridge and store the brewing "bucket". A friend of mine has the Hario[2] -- it is a much more attractive unit, and as an all-in-one you can keep the entire device in the fridge. When it is time to order replacement filters for the Toddy, I think I'm going to pick up the Hario instead and give that a try.
Either way -- the quality of the coffee has been fantastic. Super easy to brew, and really nice having it already ready to go in the morning when we are rushing out the door.
[1] http://www.amazon.com/Toddy-T2N-Cold-Brew-System/dp/B0006H0J...
[2] http://www.amazon.com/Hario-MCPN-14B-Water-Coffee-1000ml/dp/...