I'm not sure about any specific studies, but it has been clinically tested by Johns Hopkins University Hospital and shown to do very well, especially with diabeties.
I've not had any serious problems with eating, just bad habits. I can say that I have been very surprised by the fact that I don't get hungry on this diet. In fact, sometimes it's difficult to be sure to get in all the meals I need to. A couple of times I had to slam down a shake right before bed to be sure to keep from dropping too many calories.
Looking at the transition booklet(you can get it free on-line), I feel that once you've developed the disipline and habits in the weight loss phase then begin adding in the regular food, you should be able to keep it up in the maintenance phase. Also, you will still be able to order MF products anytime in order to suppliment your diet. I guess if you did start gaining you could just use a little more MF until you get past it.
If I see anything about other studies I'll be happy to share it with you. Good luck on your decision.