It's a little tougher to connect or disconnect the two trailers when you have a large PWC on each, but it's great. I just got ours July 2017. We've used them together and separate, excellent! I'm not sure if the older ones did, but ours have axles that are adjustable front to back for weight distribution changes. It came setup so that there was only about 20 lbs tongue weight. We adjusted ours so that now it has about 10% of the weight.
This is an old video. The company had changed internal structure and production line. The new trailers have many new upgrades, but I don't know what policies have been initiated regarding warranty. I'll send them a note to see if they will upgrade the verbiage for clarification.
You state it has "Lifetime guaranteed maintenance free bearings". NO WHERE is this listed in the Karavan documentation. What proof do you have to back up this claim?