The Searl Effect Generator. Is this thing just an elaborate scam?

[EnviroBat]

I've been researching this thing for the past few days. Just Google "Searl Effect Generator", and you'll find lots of information. But your not likely to find anything conclusive or promising.
http://en.wikipedia.org/wiki/Searl_Effect_Generator

It's somewhat disheartening to me, because in theory, this thing could solve many of the worlds energy problems. Not to mention the anti-gravity levitation part, (still conjecture). I hate the think that John Searl is just a charlatan who is out to dupe investors out of money. the only working prototype of this thing only has one ring, although it is claimed that they are still working on a complete version somewhere in Asia. Anyone else have any insight in to this?