While this technology would be great for people like me who need sequential throughput, I fail to see how this would help the average person because it will still have the same seek time as other platter-based drives today. Remember, sequential throughput on a HDD is not all that bad (120-150MB/s); it is when things are not sequential that thing go to hell (30-60MB/s).
Also, I find it hard to believe that it would take less power to heat a platter than to aim a small radio at it. Besides, would this not wear out the media having so many localized temperature variations? I mean, it is cool tech, but hard to believe it would work 'as advertised'.