Of course the big question in everyone's mind at this point is, can they pull it off? Difficult to say. The company has been keeping its supposed technological breakthrough under close guard for fear that a larger company would come in and steal the idea. It claims that the technology has worked in extensive laboratory testing, but of course that's quite a bit different from the real world. It looks like it'll be make or break time soon, however; the company is due to start testing the technique in rural areas.
Personally I wish the article had gone into some hard numbers (or soft numbers, or any numbers) about exactly how fast this technology is supposed to be. Thousands of times faster than cable and DSL is some pretty heavy duty stuff; taking 1.5Mbps as an example, even one thousand times faster is 1.5 times the speed of Gigabit Ethernet. If they can pull it off, it'll be wild, but I'll remain a bit skeptical for now.
Update: A TR reader sent in this link to a different story that goes into quite a bit more detail about what they're trying to accomplish with this technology. Apparently it revolves around sending data through the magnetic field generated by the electricity passing through the wire, rather than sending it through the wire itself. The article also discusses how, if this technology works, it will completely change everything. I'd have to agree.