Checked my new worm bin. The material I put in it has definitely reduced in volume and as near as I can tell all the kitchen scraps I put in it are gone already. Had to dig around a bunch to find any worms, but I did find some and they were noticeably bigger than any of the babies I put in there!
So I added another cup of coffee grounds and kitchen scraps. Since it's warmer and wetter today than it was the last time, I went out and dug a few more worms out of my compost pile (maybe another dozen or so) and added them. Added a cup of warm water to keep everything moist and covered it all back up!
MH has still not noticed it!

Even when I open it up and peel the brown paper back off the top, it smells like nothing but earthy and the fall leaves I put in it. This is so cool!
But so far at least, I definitely still need my compost pile too. Maybe it would be different if you started with 500 or 1000 worms. My 50 or 60 can't eat up kitchen scraps nearly as fast as we make them.