joel avery: Yes!
Now if this has USB3 then it could replace a laptop or an iMac for tethered scenarios in studio or on location (w/ power). I can see it running C1 Pro and providing better mobility while you shoot. Web services could be run on it as well for other devices to mirror the shoot. Depending on the shoot the 128GB should do just fine. Otherwise as another poster mentioned an external drive.
In terms of using it for imaging editing for my needs, I'll still stick with a desktop to give me Max system and video RAM. I would just be missing out on that 4K screen. Perhaps if its not a final product they could add a thunderbolt port versus USB3 (not confirmed it has that either) which might allow it to act like a monitor, take storage devices and tethering!
It will be cool to see what the final product will look like. It definitely a harbinger of 4K display tech coming to the masses in one form or another.