Interestingly, the Helix bike developer makes the claim that he developed this type of fold more than 10 years ago and embarked on a program with a Taiwanese producer to bring it to a product. After 2 years, deep into the project he abandoned the design due to not really liking the concept any longer, and after a hiatus went on to develop the Helix.
I like the way this bike rolls. However, I suspect once the folding plates between the welds gets dirty or expanded though use, expect the frame to begin developing a flex. At $1000 dollars, I would hold off until next years' model.
The Helix is a dream bike. I believe his design was spot on!