I received my envelope maker a few days ago, and just love it. I agree with everything in the detailed review above, but don't have a problem with the fact that it doesn't handle larger sizes of paper.
I mostly make the standard A2 size cards, so this is perfect for me. Very occasionally I make a larger card for one of my grandkids, but then it is only a 5 x7, and the board will handle the paper to make an envelope for this size card just fine.
I have the Martha Stewart board with the envelope template, and if I need to make a really large envelope, which is not at all likely, I can use it.
The ease of use is amazing! I love not having to get out my corner punch to round the corners, and having to cut out the little notches with scissors. This little gadget does it all - and does it beautifully.
Definitely this is the best tool I have purchased since I got my Cuttlebug! You get a lot of bang for your buck!