As with any of these systems or formulas, what works now(when it was written) doesn't necessarily work down the road. Not only do you need the brains, bankroll(you're not going to make $16/hour playing $0.10 SnG's) and volume, but you also need to right types of opponents and the "ability" to play the volume needed(post BlackFriday, this can EASILY be an issue). Also, if you're playing against all regs, you're more than likely not going to get the outcome you're looking for.
It might be worth looking at because I'm sure you will learn something from it. From the site it looks like Part2 will cover things like ICM, which if you're into SnG's, can always help to learn better. I would just take the whole system with a grain of salt, not as fact.
Not necessarily talking about this system, but people need to be somewhat careful about believing some of these things. I'll try to find the article/forum post about it and post back, but I think it was last year there was a writeup about a guy that wrote a DoubleOrNothing SnG system/formula guaranteeing profits and everything, but he made it to his advantage so that he knew that if he was playing against one of those "students", then he would know their game and take advantage of that. Kind of like the whole McManus/Cloutier
wsop situation. Kind of dumb in my mind unless he knew hundreds of players would be using this system, but it could be an edge.