This is it, the very first game system with interchangeable cartridges that contained Roms and not just switches that changed the internals to make a game (like the Odyssey 1.) Since it is the very very first lots of things can be forgiven, like those funky ass controllers. They can be used as a joystick and rolled like a paddle (for pong games.) No fire buttons, you had to push the top knob down to "fire." Looks functional enough but must take some getting used to. Has a very 70's feel with the wood grain, like it's supposed to fit in with stereo equipment.
Games are about the same quality as early 2600 titles, which isn't saying much, but is light years ahead of it's first competitor the RCA Studio II. Games and emulators are easy to find as well. System eventually disappeared when the 2600 showed up and took over. A year later Fairchild sold the rights to the system to a company called Zircon, who made the System II and also exported the console throughout northern Europe. The only difference between the two seems to be that the system II has detachable controllers and sound that comes out of the TV (and not the console itself.)
By 1979 the system was gone. Not that hard to find on ebay, usually costs around $25-40 depending on how many games are included.