It uses an IF of 100 kHz and an opamp for the IF filtering. Because of the low IF, and no RF filtering, there will be the problem of receiving images 200 kHz away from the desired signal, which might be solved by double conversion.
The simple VFO is kind of interesting to me. It just uses a 74HC4046 PLL chip (available for less than a dollar from one of my local suppliers) with a couple of discrete components. I do wonder about how much noise is introduced by such a simple VCO though.