This deal has come up before, eg:
http://www.ozbargain.com.au/node/32118
I've bought several of these chargers and have been very happy with them.
It is not described as a smart charger, but certainly functions like one: each battery is charged independently and it does not use a timer or trickle-charge.
It's been about 8 years since I last bought a charger. It was an Energizer and it took 15 hours to charge the batteries. I still have all my old Energizer AA nimh 2300mAh batteries. Would I be able to use them in this charger, I wonder?