Update 26 Feb: After doing an educational outing with these to a local elementary school and my general love of this product I upgraded the rating to 5 star. Originally I gave it 4 as an average of the sub ratings for toys (i gave 3,4, and 5 for an average of 4). But these things are just too cool. Despite a few limitations they are just awesome. The outing went well and the kids absolutely loved them.
I made a video using this product to give people an idea of what they would see with it. Ignore the part where I say it is a different product, that was for something else this is the product. Keep in mind the resolution on the thing is not top quality by any means, and that affects picture quality. I did not have it well focused at the beginning, as you will see part way through. I managed to get a second regular camera running at the same time and have it mostly synchronized. Sorry, the sound may drift off at the end as I am still learning to do these video techniques.
As to the regular camera, it can see the IR a little better than the human eye even with the filter. The first setting (which it shows as dim purple) is invisible to human eyes. The second setting (brighter purple) actually shows as a very dim red to human eyes, only visible in pretty dark settings.
These binoculars work on very early night vision technology. The upside is that the imaging mode is not hurt by bright light (as you saw at the beginning of my video in a lit room). Newer better technology night vision amplifies light and would likely get toasted if used in bright conditions, thus this is a better option for kids. However, anyone with a set of these can see the giant flashlight coming off your binocs as well, just like I could see it in the mirror.
The battery life listed on my box says ~3 hours. I have used mine about an hour and am still going fine. It takes 4 AA batteries. Remember it works by having a giant (albeit invisible to humans) flashlight on it so it is no surprise it is kind of power hungry. Be very careful to turn them off when not in use, as there is very little indication when on and can be easily left draining batteries.
Finally, keep in mind it is a toy product. It is not designed for high end state of the art, if that is what you want be ready to pay for it. I paid a little less than the $60 amazon has it for, but I think that is still a decent price for the toy. I do a lot of science education for my job and plan on using this to teach kids about EM radiation, in particular IR. You can show them why remotes don't work when you block them and that light still exists even when we can't see it. It is less practical for kids to be overly rough and tumble with it, but the educational/cool factor more than makes up for it. Also, as I mention in the video it has no depth perception, so be careful running.
tl dr: Good little toy works as advertised in the dark & light with 50s era night vision technology, don't have your expectations too high it is not professional equipment. Kids seem to love them for the cool factor and they can be very useful for teaching science concepts if applied properly.