Expressing the increase in brightness via F-stops ("turns your lens into a f0.74!!!!") is what's so confusing for people, because people tend to think of DOF in terms of F-stops. I think people have a better grasp of differences in DOF if they are expressed via sensor sizes:
Exactly. For FOV and DOF, think of the Speedbooster as attaching to and modifying the camera, not the lenses. Meaning, think of your camera as now having a larger sensor (exactly how much larger depending on which SB model you're mounting to it).
For exposure (brightness of image), think of the Speedbooster as giving your camera a "free" improvement in ISO (meaning a brighter image but with no additional noise/grain). So you think of any given ISO on your camera as one stop (or 1&1/3 or 1&2/3 stops, for these new SB's) brighter, but with the same noise.
So, if I have a Pocket, and get the new Pocket-specific Speedbooster, I will think of it as turning my sensor into a 1.74x crop/slightly-smaller-than-Canon-APSC/slightly-larger-than-GH2 size, and making the ISO performance 1&2/3 stops better.