I was thinking this solution would be ideal for me (just building a layout), I have some 17 odd locos unchipped (and about 8 already DCC). However, I am in Canada, and here I can get Digitrax sound decoders for $63 (£38.50) with speakers. I imagine they are equivalent in quality - Digitrax has a decent reputation here. They do offer sound editing (although there is a $100 programmer required), and there are about as many enthusiast created sound files in BR outline freely available as the HM7000 has available from Hornby.
Doing the math, using an Arduino based DCC+EX base station (which I already have), I would still save money buying the Digitrax offering, even if I buy the programmer. However the difference is small. It would come down to control preference - running DCC signals down the track and all that entails, what with boosters for large layouts/block sections etc, or control via bluetooth.
At the end of the day, I will order one when it becomes available, and play with it head to head with a Digitrax decoder. I might also compare with a TTS while I am at it since I already have a couple. Hmm - seems like a job for a comparison video.