The second scale came in today (this time it actually works). I haven't had a chance to check with the interferometer yet, but it seems to behave like any other Chinese scale. The form factor is heavily "inspired" by Acu-Rite SENC 50 scales.
So far I see two problems:
Lack of QA - the first scale was completely dead on arrival.
Lack of documentation - neither box contained any documentation, and there is nothing in the listing. The pinout is standard Ditron/Sino, so that is not the problem, but as far as I can tell, there is no reference track.
Plusses are obviously the price and size. This is so far the smallest Chinese optical scale I've seen.
Overall quality of materials is pretty good as well, so I suspect that this is made by Ditron for one of the various Sino's (the oritinal Sino was not a company, but rather a trademark used by a distributor that resold Ditron scales; now there are dozens of "Sino<something>" scales. I suspect the super low price is because these are either the third shift, or "fell of the truck" scales.
Once I get some free time, I will check the scale for accuracy (which will be a few weeks, though... super busy right now).
Regards
Yuriy