What in the world is that troll machine in that picture?
It is a self-powering magma-production-facility for powering Geothermals. If you use a Magma-Crucible with a Geothermal and a Magma-Engine it is enough to feed the crucible endlessly

And on the other side it looks pretty cool

I was one of the people who said it looked interesting and put it in the mod request list, but it's not quite what it advertised itself to be when I liked what I saw.
Setting aside that disappointment, I came to frustration.
I can sum things up simply: "GT could be so amazing, if it wasn't so horrible."
To be honest I disliked the 1.4.2-version too and suggested some changes. The 1.4.5 version has a much clearer path. If I wouldn't suck at such things I would build a small techtree for IC2 with Gregs. Gregs does change the basic IC-Progression pretty much but even with TE installed it offers option that are expensive to set up, but once you have everything running it starts to pay itself pretty fast. I'm not sure why people like RC-Tanks who eat lots and lots of iron for literally nothing (a BC-Tank can do the same for some Glass), but complain about using some iron to build a Blastfurnace.
Maybe GregTech needs some improved visuals since people tend to like cool looking or cute things even if they are inferior to existing things (like Thaumcraft).