This stuff looks pretty cool! I think it should be used as the ultimate DWR, but I don't know if it will replace laminates. I would have to see if it is durably waterproof first before I was totally convinced.
They're going to use it in footwear from fall 2008. They claim to have tested these shoes with all the regular tests used for waterproof footwear (flex tests, ...) and no leaks were observed. Very intruiging stuff.