The problem with integrated products is that they are convenient if everything works but if one function breaks, the whole unit loses it's value. Modularity has addressed that to a certain extent but isn't always an applicable option.

A pump that doubles as a travel case handle has the added requirements of needing to be very stout to resist bending which can either mean larger size (and weight) or having to use stronger (more expensive alloys) and it will probably have to be capable of being locked in both extended and retracted positions. It's a novel idea but you'd have to question the effort needed in designing it versus it's viability... or you could always just rely on very creative marketing strategies to sell it to glassy eyed consumers.

Personally I prefer ideas such as Brompton's little pump that is always attached to the frame of the bike or Dahon's seatpost pump. In both instances the pump is always with the bike.