i love the finishing work on that seat post, grand bois.
i can see this as a good way to fool the above-average bicycle thief. "where's the seatpost bolt? i need this expensive looking seat!" all one would have to do after setting the post correctly is super-glue a ball bearing into the bolt head that holds the saddle on, and you'd never have to worry again.
of course, now that i've said it some enterprising individual is either going to start marketing this as a city bike security device, or bike thieves are going to start carrying acetone. darn.