The Edison has not been scrapped but Will just isn't quite happy with it. The big problem was that snow was getting packed down on the plates. Making you have to do a lot of cleaning before putting the bindings on. Versus the slider pucks that are self cleaning. He's still playing with the Edison design but realized it was more practical to work with what was there. The Magneto is a pretty slick binder. Sounds like it will be cheaper than the Edison was going to go for too.
On a side note. The K2 Kwicker system. I won't call it perfect, but it is pretty slick. The disadvantage that really sticks out is that you are stuck with one boot and a set forward lean aka the boot. Otherwise, it is super light and easy to use. Very simplistic. Still not sold on Step Ins but you can't say that K2 didn't put a lot of thought into it.