I'm considering purchasing this, but I would like your opinions on this effect from those of you who own this before I make the purchase.

Is this easy to do? Can you use any type of thread?

It is very easy, esp with Mike Wong's video. It comes with a "lifetime's worth of string", and I wouldn't recommend using other types of thread as there is a little prep. Besides - you restore it, so it should last you forever! Gets a pretty good reaction, but isn't one of the top tricks of all time. Huge advantage that it can be repeated time and time again immediately. I'd say worth it for the price as an extra addition to your set, but not as a highlight. But I don't know much...!