Reply to Anyone tried Soundation?

http://www.soundation.com/

Ran across this at NAMM and just played with it for a bit. Seems like a really powerful tool - especially being free. It's a web based DAW that's linked to an online clip store. Libraries are reasonably priced (about $5 USD), but you can opt not to use them. Interface looks like Ableton Live's session view. It's capable of effects, automation, synthesis (and sequencing), and is overall a pretty sick little package for someone who might not have the money to drop in on a pro DAW.

I believe if they developed a little social network around this it would really take off. Maybe session sharing and real time colaboration...