Basically, this is just a new form of an SSD with dramatically increased information density and without the drawbacks of flash.

• Infinitely rewritable
• More data dense than flash memory by two orders of magnitude
• Read/write 1E6 times faster than HDD memory
• Cheaper than existing HDDs

This sounds too good to be true, but hey...  If they make it work, this'll be awesome.

Of course, to take advantage of the speed, the downside is that you'll need a disk controller and data bandwidth capable of transferring that quickly.

Killjoy!

The controller and bandwidth isn't that big a deal.  They'd need to redesign the architecture to take advantage of so much speed, but when you look at bandwidth in other applications, it's already staggeringly high compared to drive utilization.  The R9 290X has 320GB/s, several hundred times the bandwidth of current SSD's.  Terrible bandwidth for drives is a product of terrible drives more than anything.  There's no point in making a SATA controller cost you more money just so you can not utilize more of it's bandwidth.