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This is a big development - it'll mean small, compact digital cameras with dSLR image quality. The downside is that it will rely solely on a electronic viewfinder (EVF) for composition and focusing.
It'll especially appeal to rangefinder enthusiasts who can't afford the £3000 Leica M8.
The new mount will (with the correct adapter) accept almost every interchangeable lens ever made.
My personal tip is that it will go down a storm with the excellent and very reasonably priced Voigtlander rangefinder lenses made by Cosina. Here's hoping that manual focus works well on the new system....