Reading Bicycle Design, they had a link to this bike. All I could say was wow, I would love to own something like that. It seems pretty ideal as a commuter bike. The rear light would have to be moved as it would be obscured by anything on the rack, but other than that, this is the sort of bicycle that I think people could really get into.
Of course it is just a concept, and if it was released they would undoubtedly charge far too much for it... sadly. I just wonder why some large company can't see the potential in good design, build something cheap but similar and sell it? Call it appealing to the iPod generation or whatever, but I think bikes like this are more likely to make bicycle commuting cool than any environmental campaign.