Interesting concept with the lack of moving parts etc. I've read that those aren't very accurate with rainfall, especially during heavy rains. Have you tried verifying it against an old fashioned regular rain gauge? When I got the first Davis years ago it took me awhile to trust the automated tippy cup style gauge. I verified it against my old gauge for several different types of events before I fully trusted it.
One thing I like about having a station with moving cups is it keeps the birds away. With the lack of moving cups I'd imagine cleaning bird crap off the station on a weekly basis lol.