I have played one of the original Rhythm Traveler kits, with the larger diameter shallow kick drum. I spent some time tuning and dampening to try and get the best possible sound from the set as a favor for someone (without buying new heads). I was not very happy with the sound from the toms. The kick drum could sound OK, and the snare was pretty good, but the shallow toms with no bottom heads just didn't sound good to me, especially the biggest tom. I'm sure that someone with more expertise and patience than I could get it to sound better than I did.
On the other hand, the kit would break down into a pretty compact package for transport, and could be set up in a fairly small space. It also doesn't cost much.
Overall, not a bad practice kit, but I wouldn't buy one.
The newer version in the picture is somewhat different from the original: the kick drum appears to be a smaller diameter with more depth, and has four legs. Also, the biggest tom was attached to a cymbal stand, not anchored to the kick. I can't remember if the snare was attached to the kick or had its own stand.
I played one of the original rhythm travler kits with the shallow/larger diameter bass drum. It wasn't anything that bad, but the volume on the bass isn't enough to really let the rest of the band hear it you if you start to get loud. The toms sound much better mic'ed undernieth I think than they do with the mics on top. That was my first impression of the set. I also looked at a Pacific chamelion, a hipgig and a small mapex set. Both of which had a much louder kick drum.
I can't really say much else about it as I only played it once. I was looking for a small kit at the time and I ended up with a hipgig instead of the travler. That particular hipgig has a 16X16 inch bass drum very similiar to the travler you posted and it sounds excellent. As long as a 16" bass drum is lifted high enough to allow the beater to hit close or even dead center on the head you can get a great sound out of it.
If you are looking for the shallow compact bass drum like other rhythm travler mentioned, look on ebay for a Remo "legero" drumset. It's practically the same set with a metal piccolo snare drum. all the drums nest for easy transport and since they have been out of production for some time you can get one pretty cheap.