I populated this adapter with two 2 Inland Premium 1TB m.2 NVMe drives installed in a Qnap TS-453be NAS (4 x 10TB, RAID5) and then connected to HiFiber SFP. DAC cable to a MikroTik CRS305 10GbE switch to multiple PCs in my electronics lab. The PCs were equipped with Mellanox Connectx-2 10GBe network adapters, each costing only $30. The QM2 adapter uses a four-lane PCIe Gen2 connection to connect to the NAS. The connection is theoretically capable of peak throughput of 2000 MB/s, but testing iperf3 between a NAS and a PC running Windows 10 and Ubuntu 16.04 consistently gives a measured throughput of 4.0-4.8 Gb/s s (500-600MB/s). Atto Disk Benchmark showed read and write speeds of 250MB/s (as shown in the figure). Although it's only a 3x to 4x improvement with the upgrade, I'm happy with the performance and cost.
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