EarthStation5 looks like great technology. The only over-optimistic claim is hiding the user's IP address - it's easy to sniff your traffic and see where packets are coming from, so law enforcers can just search the network, find who has a particular file, start the download, and find the IP address of the uploader.
They do claim to have automatic proxy servers, but only to hide the download destination's IP address - the uploader is still identifiable. As has been written countless times elsewhere though, is putting an open directory on a P2P network really a crime? We'll probably find out soon.