Thanks Yug, I did have an Outlander with CVT also but didn't have it long enough to give an opinion on it, except the good fuel consumption and smooth changes with no jerk etc....Forms of CVT has been widely used on other vehicles, scooters, snowmobiles etc for some time.
I had a lancer with CVT for a few years, could not fault it, however I never towed with it.
The system was initially developed by DAF back in the 60s, initially in a small car (bit like a 2CV), then it was fitted to DAF trucks where it remained for many years. I believe the initial versions used a large Vbelt which used to wear.
It reappeared in cars about ten years ago, but the new versions use a steel belt.
The principle is very straight forward, where the drive belt is used to transfer power from one wheel to the other, with both wheels able to change diameter, thus gear ratio. The initial ones used two Vbelt pulleys, teh one supplying the drive was squeezed narrower by a system of centrifugal weights, the other was sping loaded, and just followed the first.
I believe the new systems are more two cones set opposite each other with the position of the belt controlled by the computer.