Not so much a Google Killer as a parasite. As far as I can tell, it seems to just leech results from Google, Yahoo and Bing. So if it kills Google, it kills off part of the way it works. Not smart.
I'm not keen on the way the page snapshot shows the domain home page rather than the specific page being listed. And as you say, it is painfully slow.
What does this site supposedly do that is better than Google? I can't see anything.
What does Google do better than this site? Pretty much everything. Quicker search, ore powerful calculator, currency conversion, maps, faster indexing (Google has indexed this thread, but Sperse hasn't).
In other words, forget it.