Sid, direct to plate (aka CTP, aka computer-to-plate) is pretty much the standard technology now used in offset printing. It simply means no film, just files going straight to plate.
In the case of this company, what they're selling in basic terms is 1200 dpi resolution printing (i.e. medium quality printing) using paper plates (i.e. not metal plates) to produce short run print jobs (i.e. 300-1000 impressions per plate). Their pricing may or may not be better than other comparable printers, but it isn't because they're using direct to plate. Paper plates wear out much faster than metal, but they're much less expensive, hence good for short runs although not suitable for high quality printing.
The specs they're quoting are the same quality that small printers used to offer going back to the 1970s and on, using the old Silver Master plate systems (which they make mention of) and single color (b/w) small offset presses like AB Dicks or AM Multis (usually 12 x18), which could also add a second color using add-ons like the T-51 heads sold by Townsend. Paper plates have been around for many years, so there's nothing especially new about that. And sending files direct to paper plates is nothing new either. The direct to plate press that really revolutionized offset printing was the Heidelberg GTO-DI (i.e. Direct Imaging), which was first introduced in 1991, and could print four color jobs (not just single color) direct to plate (which were right on the press).
As for pricing, understand that all printers like to quote one lump sum because it lets them hide a multitude of padding in the cost. But if you really want to get the best price, ask your printer to give you a quote broken down by item as follows: prepress and prep, proofs, plates (cost per plate), stock (per M sheets), makereadies, press run (per M), bindery (per M folding, trimming, stitching or perfect binding), and delivery. Many printers won't like doing that. Stick to the ones that are willing to break it down for you. Then compare carefully. Just by showing that you know what makes up a print job, you'll always do better.
And make sure you understand what kind of files they prefer. PDF is what you should be supplying, but if not, be sure you understand what they're doing to your files to prep them for press, or you could be in for some nasty surprises.
All other things being equal, printing costs will vary according to press size and press run (i.e. the larger the press, the more expensive per M; the longer the run, the less expensive per M).