Wow, neat! Do the wheels just pop off easily? I don't know about those folding wheels, though...
Very nice idea. I hope they continue to develope the product but with gears. Then they should make a 16 or 20 inch folder. I'm sure it would sell because you probably wouldn't need a special hard case for air travel.
WIth some quick release wheels it looks like it would be great for the closet or under the desk at work.
Better yet the design actually looks practical (unlike many of the concept bikes we see around here).