Basically a folder is a CNC update of an old Chicago Dries and Krump powered leaf brake.
Of course, a folder can do things the old powered leaf brakes cannot- D&K was optimising them for thick material- I have seen em as thick as 1/2" x 12', maybe even 3/4".
The italians seem to have perfected the folding machine- besides Fasti, which is near Torino, I am sure several other italian companies make these.
there is also RAS-a german company-
http://www.ras-systems.com/index_start.html?ordner=produkte_biegen&datei=gigabend.html
And now even Roper Whitney has jumped in- check out their Gemini machine
http://roperwhitney.com/bending/gemini.cfm
Most of these machines are much more sophisticated than old press brakes- clamping is separate from bending, so there is better accuracy, they usually have much better back gaging, auto thickness sensing, auto feedback loops on bend angles, so when you program 85 degrees, you get 85.
No, I havent used one. But if I got my hands on one, everything in my shop would be bent.
I do have several other european machines that are improvements of simpler american concepts, and I like em.
Here in america, we have relied on skilled labor to compensate for simple, sometimes sloppy machines, but the europeans instead have gone for high tech solutions.