I saw this thing pop up last night and did some reading.
My first reaction is that I am totally blown away by the formfactor... flash memory and a wifi chipset in an SD card...thats cool!
I agree with people who say its a tad limited in that it appears to be bound to a single AP and maybe a particular computer... but I suspect that will be short lived. It'd be trivial to have it connect to any open AP or for it to have a memory of like 10 APs...
Just when I was getting disapointed that wifi cameras were not going to take off... I'm keeping my eye on this thing!