I've used this for the past couple of years. I've used it with the smartwater bottles, gatorade bottles, my nalgene on day hikes, etc. It works great. I did use my platypus bite valve instead of the valve included in the package.
The important piece that is included is the one way valve. There was a post on here the other day that listed one from an aquarium pump where they made basically a DIY smart tube. I actually drilled out a gatorade top and added the one-way air valve and a rubber grommet for the drink tube. This is much lighter than the stock bottle attachments. Those basically amount to the standard top that screws onto an adapter for the bottle size you pick.