It has a zipper pocket in the front that holds my end caps, tightening screws, stitch markers, etc. Cramming the 20 extra pouches in was a little tricky, but now I have plenty of pouches for all of my circular needle components. (I splurged and got a ton of the Harmony interchangeable ones, btw!)
Anyway, I think it's a nifty (and cheap!) way to conveniently store the circular needles. It even has a handle and it zips completely closed.
On another knitting note, I wanted something to measure my new (size unmarked!) Harmony needles, so I wouldn't be lost as to what size they were. Of course, I could just get a little needle size thingamabob, but I don't like those - some of them don't have the half-sizes. The Engineer in me wanted a tool. A Caliper. I could have just spent 5 or 10 bucks on a plain old brass caliper. But no, I wanted the cool dial caliper. $30. To measure my knitting needles. Overkill? At least I'll know to the hundredth of a millimeter the size of my needles. Need to know your needle size? Come to me. The Chemical Engineer will measure for you. ;-P