So I was fiddling around with the crate-o-matic I got yesterday, and it doesn't seem like it has much practical use.
1. You can't use it during combat.
2. Outside of combat, you can't move around in the crate (though, as I read somewhere else, you can change your outfit while inside).
3. The crate does not shield you from damage. Nor does it apply any stealth mechanic as far as I can tell.
4. If you hop into the crate, send your companion at mobs, and your companion dies - the mobs will target you even if you're in the crate.
5. If you hop into the crate, and a patrol passes by, the patrol will attack you.
6. Using any abilities while inside the crate will immediately pop you out of the crate.
I do have to say though, that it is rather hilarious to be in front of a GTN terminal with a bunch of people nearby and just pop into a crate.
Also, a note - even though the item tag still says "Binds on Equip" in my inventory, I can not sell it on the GTN. Haven't tried mailing or trading it yet though (I am kind of afraid of losing it).
edit: fiddled around some more
Yeah, gotta agree with this. Until a developer comes out and actually says it'll take us 1 hour just to watch the cutscenes in a single chapter, I'm kinda hesitant to believe it would be that much. My gut instinct tells me 1 hour for cutscenes alone is very ambitious and may not be realistic ... though maybe that's just the pessimist in me. Whatever it turns out to be, still looking forward to this expansion though!