Count me as underwhelmed. Distance is marked at 100 ft for the most part, though have seen some test as far as 300... Basically if you are in an urban setting they are expecting interference.
Secondly, no option right now for non-Speed lite triggering... i.e. this system can fire 600 EX speedlites and future speedlights, but that is it. The 600 EX can be fired optically, but you cannot say do hybrid - 580s Optically and 600s radio. If you have other speed lights or strobes you want to fire, you are SOL unless you are setting up to fire upon flash.
While some have had issues with the Flex, I still like the fact that I can fire my Photogenic PL2500DRRs with my Sekonic Light Meter, my PW II, or my Mini or Flex as well as with my 580 on a Flex, fire that, or hook a cord into any other flash and sync of the PW. the Phottix Odin and Stratos combo can pretty much do the same as well.
Not sure what I am missing other than price, or maybe I have missed something, but I did not see anything this set up could really do that the 580s with Flex or Odin couldn't do, and if anything else, at least the PW and Phottix solution allowed for non speed lites to be included in the mix