This rifle is not an improvement on the SG550-series rifles and you can see in the pictures why not:
You can tell by the finish which bits were made in the US and which ones weren't.
The lower receiver is clearly made in the US, and the upper in Switzerland, except they've pretty crudely welded a rail onto the top of it (as you can see as it still retains the dovetail at the front to attach a scope mount, which is now useless). The trigger, the safety and the takedown pins look original to Swiss Arms too.
The barrel pictured and the gas system are Swiss Arms, but they've simply threaded the end and put an AR-15 flash hider onto it (upside down).
The reason it's one pound lighter looks to me because the lower is made of aluminum, and the original is made from sheet steel.
It says the barrel has a 1/9 twist, so I take from that (as the SG550 usually has a 1/10 twist) that SIG Arms in the US is going to make their own barrels, and this is merely a prototype. My reasoning being that 18 USC 922(r) prohibits the assembly of non-importable semi-auto rifles from imported parts, hence the reason they've put so many US parts into it, and 18 USC 925(d)(3) prohibits the importation of barrels for non-importable firearms (or at least now it does with the latest ATF ruling), and this rifle wouldn't be importable, only the various bits from Swiss Arms they use are importable, but sans barrel thanks to the latest reg changes.
One the biggest strengths of the SG550 to my mind has always been the magazines, because they hinge into the lower and lock solidly in place. This thing uses AR-15 magazines, which are held in place basically by a square pin that protrudes through the side of the lower. It's not as good, always been a weak point of the AR-15 and the various other rifles that use AR-15 magazines.
Another strength of the SG550 is the stock, it's fantastically stronger than any AR-15 stock, although one could argue having the AR-15 collapsible stock means that you can adjust reach.
I certainly wouldn't be trading in a SG550 or PE90 or whatever for one of these things.