This is an exciting new product (reported in the American Cinematographer, so don't know how long it's really been available).
It apparently will solve the problem that's been killing me for the last couple of years. Sharp focus on a human face in HD, to me, looks pretty bad. I've employed a dozen tricks in post to fix the overly sharp image (usually adding some blur). And in-camera, at times, I let the image go soft.
Schneider's Classic Soft seems to be the only good filter for HDV and HD. The black pro mists degrade the image too much, even though they work great in SD. No idea why. I'd tread very, very softly here, like with 1/8 strength, at least for starters.
This also happens to be my favorite filter (when I use one at all) for film, when the actors need a little skin help.
Note that Tiffen now sells a filter software program to use in post, but they do not (yet?) have a version for Vegas. It had a pretty good review somewhere recently (DV.com, I think).
The problem with using any filter in the field is that unless you have a really good field monitor, you cannot accurately judge the effect.