I guess the title covers it in summary, here's some additional details:
You can see the system here: http://www.laserlyte.com/collections/lts
I got the target, the .45 and 9mm laser "bullets."
The target box has a large target (~6" bull) and two smaller targets below it in each corner. The small left target turns on the display to show your "hits," and the right target resets it (to blank).
The laser "bullets" fit into the chamber (manually, not mag-fed) and act as a Snap Cap that blinks the laser when the hammer/striker smacks it. You see a momentary blink on the target, then the target blanks until you "shoot" the "display" target (lower left). Once you're done scoring your hits, either shoot the right target, or power cycle the box.
I've only played with it a few hours so far, but it's been a great help in smoothing out my DA pull and both-eyes-open aiming techniques (at home, in my living room ... no eye protection, no ear protection, semi-reclined in my La-Z-boy ...)
I believe it would also be useful for point-shooting practice, low-light, or almost any other type of practice. Of course, there is no recoil and you have to go DA or manually cock the hammer for SA for each shot.
LaserLyte say on their web site that it's good out to 50 yards and 6000 shots per battery load in the target. The "bullets" use three 337 button cells; three are loaded and three more are included in the package (six total, three used at a time ... or three in-use and three spare).
I suppose it seems a little steep price-wise, but given the cost of quality ammunition, I think ultimately you save money, save time traveling, save time reloading, and save gas (for those of us not lucky enough to be able to shoot on our property). Ballistically, I don't think there's enough difference to fret over (man those laser bullets sure are flat shooting!!
All-in-all, I think it's a pretty slick system. After I play with it a while, I'll try to post back and add any other observations.
For the record, I have no association with LaserLyte or any of its personnel. This is my first LaserLyte product. I bought it retail, direct from LaserLyte's web site.
If anyone has any specific questions, post 'em up and I'll try to answer 'em.