Last year, about this time, I moved into a new house. The only problem is the trees !! Don't get me wrong - I love the trees, but at this time of the year, they all fall down. The previous owner told me he picked up about 70 bags. Last year I just made a big pile, let it pass the winter, and then stuck it in a 4x4 composter - it was still 6 feet high!!
Last year - to try and make things easier, I also bought a leaf vacuum. Now this is an electric one and so it does not suck as much as it should and is an overall pain in the ass to operate. I ended up raking the lawn anyway.
this is a fairly compact model - but I like it. The plan seems to be like last year - make a few big piles, and then mulch, mulch, mulch. While last year we eventually used a rake, this year I will have the blower. Having tested this out this afternoon I think this will work out great.
In part of my tests, I wanted to see how much it really reduced - the box says 16:1 - but nobody thinks those are reasonable. Since I had some bags already raked up - I decided to mulch them to see.
In the picture here is the original bag . This was actually pretty packed down as it came out as a solid chunk (it had been bagged a few days ago only). Passing it through the vac, I had to empty it twice - though it was only half full the last time.

After having placed it back in the bag we ended up with about a third of the original size. Now There are two things here - 1) my original bag was packed and could probably expand to 2 or 3 unpacked bags - though I doubt anyone would really do that. 2) my second bag was not packed down - If I had more, I could probably pack it down a lot more than that (I will see).
So I think 16:1 is pushing it from a practical sense (everyone packs the bags down) but a 6:1 reduction or even a 10:1 - maybe.

Since much of this will just be going in my composte bins (I am saving some for bedding mulch) I wanted to see how much I could reduce by passing it though again. The second pass fit in one vac bag, and the third time had a little room left over. The picture shows what it looked like after 3 passes. For mulch this is pretty good - for composting, I have done better with my mower - but this is cleaner and easier - though I could probably suck up the stuff that I mowed over with it.
Overall though, I am happy with the Toro as I tested, I will probably have more once I finish my yard this year.
One other thing - Toro (and others) sells attachments so that we can connect this directly to the paper waste bags or garbage bins. The stores around my area don't seem to sell them - but I will be trying to see if this will help much.