There's been a fair amount of discussion of this already on the LH board:
http://flyertalk.com/forum/showthread.php?t=713372
The original survey LH sent to some of its FF's was also sent to an FTer, who was kind enough to leak the information to us long before the media caught wind of it.
Personally, I love the idea. I don't have the money to fly Business on my own dime, but for 200€ extra per segment I would book this option in an instant!