I think I was selling them for $80 on ebay. This was probably 15 years ago. They were being used at tournaments and some pool rooms. They were invented by the Sardo brothers here in the Los Angeles area but I think they lost a ton on them. This was before templates. At first they were very popular and hard to get, then after a few years they lost their steam.
Yeah, they worked best with new balls and fresh cloth. You did have to train the cloth and that's when they worked the best, otherwise it was a slug-o or some referred to it as a "tardo" rack, before acceptable PC obviously.
I really didn't care for the divots in the cloth. I refused to use them in one tournament I directed years ago. The sponsor was pissed but the players were happy. I like the Delta-13 rack a lot. You can get all the balls tight and touching with that rack, unless they are out of round.