Signed up for the podcast after reading the original post. Got an offer a month or two ago to take the course for not quite 1/2 price, so gave it a shot.
Took the option without any tools, as I had most of those already. Note that the option with tools includes a LAB pinning kit--but also note that it is one of the mini-kits for Kwikset, not a full set.
What one gets is a thumbdrive of videos, some Kwikset keys (set up as master and change keys), and a 1" binder of material. The binder is full, it is actually hard to turn the pages. It is split into a manual and a workbook. The course requires one to purchase a Kwikset lock to practice master keying.
The video clips cover the following:
1. Picking (normal picking, pick guns, Ace locks,and electric picks; and how to drill locks, and how to destructively enter mortise cylinder locks ), two videos, 140 minutes total. Does not go over security pins.
2. Rekeying. Demonstrates how to remove and replace the cylinders for Weiser, Kwikset, Schlage, Weslock, and Titan, knobs. How to repin. Talks about .003 versus .005 kits. 40 minutes.
3. Duplication and code cutting (space and depth keys and HPC Blitz). 24 minutes.
4. Master-keying. Goes over how to plan an overall system. Uses pre-printed charts of cuts. Briefly touches on Schlage IC core. 74 minutes.
5. Impressioning. Covers disc tumblers only; the instructor suggests the main use of impressioning is for imported office furniture that lacks codes. 27 minutes.
6. Panic bars / commercial doors, a few minutes of electronic locksmithing, and a surprisingly long segment on retrofitting drawers for cam locks. 50 Minutes
7. Safes. Combination changes for key change and hand change, and a little troubleshooting. 35 minutes.
8. Deadbolt installation. Uses a Kwik-Set jig. Talks about some of the problems to watch for. 42 minutes. There is another (20 minute) video on installing a Schlage electric keypad lock.
9. Auto-lockouts. Shows one basic method of auto entry (under the window), and talks about another (long reach). 13 minutes.
10. Locksmithing business. Talks about advertising, how to find accounts, and tips on saving money when setting up a van. 40 minutes.
The videos are OK for what they are. Some of the basics are available for free on youTube material (e.g., Kokomo Lock's youTube videos
https://www.youtube.com/playlist?list=PL6FAA070778F1219E), but this material does cover some of the business aspects and is at least systematic in its approach.
The text goes beyond the videos in some places. The work book is designed to be filled out while watching the videos to reinforce learning the material.
Some negatives: in my opinion, is that there is not enough on Adams-Rite / aluminum store front locks. Not much on door closers. Nothing on SFIC / Best. Very little on life-safety codes, ADA, etc. Nothing on profile cylinders. The auto-opening video is sort of weak, and is more of an intro to auto-opening than a course on how to do it--but I suppose a big part of it would depend on what kit one goes with.
Some positives: good coverage on KIK key changes for common locks, good suggestions on advertising and very specific suggestions on how to pick up property management accounts. Practical advice on pricing. The notebook includes a suggested inventory list--that list is very interesting and I could see it helping one to stock up on the essentials to support customers without wasting much money. Also has a list of suggested key blanks to stock. The instructor does (or used to?) work in Las Vegas, so there could be some regional variations. There is also a suggested tool list. The instructor is a good talker and he does not put one to sleep.
The thumbdrive also has some pdf's and bonus videos. The bonus videos look like they probably came off of youTube, and even include some Bosnian Bill videos. The pdf's are mainly some vendor handbooks and such. OK, but there is a lot more of that here
http://www.lsamichigan.org/tech_manuals.html for free.
I'm not a locksmith and have not taken any other courses (besides having read through an old correspondence school course) so I can not well compare it against the trade or against other programs. My impression is that it would help get one started in residential / property management and some light commercial. There is nothing like working with one's own hands, but watching the video might be the next best thing. The experience in marketing and on finding accounts and the inventory list were all very good. The money a prospective independent locksmith might save on inventory and advertising, and the potential to line up accounts earlier, could make it worthwhile.
I do not regret buying it at the price I paid, and look forward to working through the workbook page by page when I get the time.