Try this link for information on the system.
http://childress.officiating.com/
I started using the stance two years ago. I really like it for many of the reasons mentionned previously. Plus by working farther back from the catcher, you just get a different perspective. You don't tire as quickly. Good overall view of the plate. You can really ger locked in and relax as the pitch comes in.
In my association, two guys adopted the stance last year after talking to me about it. Both liked it and I had a couple of others mention at a clinic that they want to give it a try. I think it will really become popular over the next few years as more and more umpires give it a shot.