I've used a Kapex for mirror frames and similar jobs. The cut itself is accurate (or it can be adjusted to whatever accuracy you require), but it has three shortcomings for picture/mirror framing work.
1. How do you prevent the workpiece tipping over, flexing down, or breaking out at the rebate? The answer is you have to make a fillet piece that entirely fills the rebate space. Of course that's entirely do-able, but it's a faff, where as a specialist mitring machine like the Morso or dedicated picture frame mitre saws, have adjustable rebate supports built in.
2. The cut is good, especially if you change the blade for a fine cut blade, but it's still not quite as good as a guillotine knife cut like the Morso where the end grain looks glassy after being cut, that has implications for glue strength and glue lines. For really, really critical work you might want to shoot the mitre after cutting on the Kapex.
3. The mitre is only one half of the accuracy equation, the other half is getting each pair of picture/mirror frame "rails" and "stiles" absolutely identical in length. It's surprisingly difficult to line up the previously mitred end of the workpiece against a stop and be accurate to better than 0.1mm, the feather edge at the tip of the mitre can be compressed which is what makes it a tricky job. There's a workaround in that you make supplementary stops which are themselves mitred to receive the mitred end of the workpiece, but it lacks the convenience of dedicated mirror/picture framing machines which have these kind of stops built in, especially as a shop made mitred stop is a little more susceptible to getting saw dust trapped in it which can throw out the accuracy.
So the Kapex is perfectly capable of producing very good mirror/picture frames, I'd give it 9 out of 10 which is plenty good enough for most applications. But you can improve the quality, accuracy and convenience a little bit further with specialist, dedicated equipment.
Good luck!