I have a wavebox in my tank. As for the "not noticing the size" I don't believe that for a second.

I was actually shocked at how it looked in my tank. But like anything new, over time you come to not notice it as much anymore and now it doesn't bother me.
As for polyp extension I don't think I've ever seen such incredible PE in my tank ever. I swear some of my millis could do Herbal Essences commercials with their polyps waving in the breeze (bwahah that cracked me up just thinking of it

) The fish took a bit of getting used to it, but they're a bunch of freaks anyways, now my regal loves to play around in the current trying to eat the algae growing on it.
They are pretty pricey but a great investment for the tank (and a cool new toy!). For me it was the choice between a wavebox or a 6100. I went with the wavebox because of the ability of it to pulse and that you could bugger around with the pulse times and stuff (and at the time everyone said it was cool). I just found out yesterday you can pretty much do the same thing with the 6100 and a multicontroller. I think the waveboxes might be a bit more powerful though.
I say if you have the dough, go for it. You certainly won't regret it.
