It would get my vote for "world's most dangerous bicycle" if it weren't for the front and rear reflectors and the wheels' hunter safety orange paint job. Is that so peds and cars can see it and get out of the way? Whatever, my hat's off to you, mp. I'ld definately submit it to the FGG, has a great shot in 2005's best beater bike category.
edit: Or Martha Stewart's yearly Best Innovation for Modern Living