I totally agree that the technology is impressive. Everything you are saying about the technology is 100% correct. I also want to add that online multiplayer games are going to perform much better on this system. I remember how impressive Ultima Online and other MMOs were when they were first released in 1997, just because the games were running on dedicated servers. This technology has the potential to have the same effect, but with all online multiplayer games.
Having said all of that, I still think there are two even more important factors that we don't know about yet. 1) Game library and 2) business model. I need to know more about these two things before I make a final call on this. If they don't get enough good games, or if their business model is bad, then it won't matter how good the tech is.