I have one I bought from Territory Ahead. It's ok, definitely takes up less space than a regular garment bag, but I wouldn't try to one-bag it with one of these.
I've never used one of these, but I have on occasion created my own version of this:
1. Hang the clothes on hangers.
2. Either place a single dry-cleaner's bag over all the clothes, or use a separate dry-cleaner's bag for each hanger.
3. Secure all the hanger hooks together with a rubber band, a ponytail band, or a ribbon.
4. Lay the items on your bed or another flat surface.
5. Roll the clothes up, starting with the hanger end first.
6. Place the rolled clothes in your bag (a duffel, a suitcase, a travel pack, or whatever).
Needless to say, your bag should also have room for other items. (Unless, of course, you have lots and lots of hanging clothes or a very small bag.)
There is an interesting thread on FT about roll-up garment bags. These carry-on size shoulder bags roll up to a duffel bag format. The garment sleeve actually forms the duffle in most cases. Quite ingenious.
The thread covers about all the available models and has links to most of them.
They range from $37 to $270.
http://www.flyertalk.com/forum/travel-products/965528-roll-up-garment-bags.html
Does anyone own any of these bags? What do you think of them?