Product website - http://www.roland.com/products/en/VR-5/
In the demo you can see how it makes seamless cuts from one shot to another. At one point near the end you can see the machine itself sitting in front of one of the announcers. The microphones are inexpensive Radio Shack corded mics that were plugged into the back of the machine. One camera up top and one on the stage is what we used to film this event.