From Wikipedia
Heating efficiency
A microwave oven converts only part of its electrical input into microwave energy. A typical consumer microwave oven consumes 1100 W of electricity in producing 700 W of microwave power, an efficiency of 64%. The other 400 W are dissipated as heat, mostly in the magnetron tube. Additional power is used to operate the lamps, AC power transformer, magnetron cooling fan, food turntable motor and the control circuits. Such wasted heat, along with heat from the product being microwaved, is exhausted as warm air through cooling vents.
With that said, 1100 in and 700 out for a cooking microwave, so half the power lost is inaccurate...if Robert's comments about improved efficiency in heat exchanger are accurate, 64% might be a low number.
I understand your comment that you don't feel this product is marketable. Your prerogative, of course, as it is mine to take the reverse position.