In fact, I just signed up. I'll let you know how it works out.
Ipredator is currently using the same platform as several other VPN franchises including Relakks, which means it's not really anything we haven't seen before. The servers are maintained and provided by Pirate Bay affiliates though, which may be more trustworthy to the average BitTorrent user than a random VPN provider.
That aside, we were told by former Pirate Bay spokesman Peter Sunde that contrary to what the legal page states, no logs of any kind are kept by Ipredator. The text that is in there is a left over from the standard template they got from the provider of the VPN platform.
And, according to Sunde, there will soon be even more advantages and added security to Ipredator.