Fastway is a division of Progress Manufacturing (same company that makes the Equilizer hitch). The hitch appears to be a somewhat less expensive version ...
I've had one since last fall. My only WDH hitch to date so no experience with others. My trailer is just under 4,000 loaded and is 550 lbs tongue weight, pulled with a Nissan Frontier. If a had a full size truck doubt I would need WDH.
For my small rig the hitch works great to provide a very stable towing experience. The Fastway is a 2 point sway control where the Equal-i-zer is 4 point sway control.
For that size trailer, that hitch would probably work OK, it's quite a bit cheaper than the 4 pt Equalizer which has the added benefit of sway control in the hitch head. If your trailer is properly set up and hitch properly adjusted, you can use just about any WD hitch.