That looks cool. How hard is it to get replacement sticks for it? It says they are special formula carbon arc 'pencils'.
I would love to hear how it goes, because I can think of a heap of jobs where that would be handy.
Edit:
Found this:
http://www.youtube.com/watch?v=fn2LLrNvBZI
They seem to be called 'Poke Welders'. I like the idea that it can plug into your existing arc welder.