My problem with it is the lens choices. If i was shooting on a 5d with a 24-70 then it will work. thats great. But what if I'm on a 7d or a t2i? what if i have a Tamron 17-55? for the price it seems too locked down.
I think its a cool idea, but being limited to Canon bodies seems silly, doesn't it? I mean, does Canon even have any parfocal lenses? That means as smooth as the servo zoom might be, you'll still be fiddling with manually adjusting focus.
Something like this on a NEX or GH2 with autofocus lenses seems to make much more sense, if the idea is to use it like you would an ENG cam.
That being said, Panasonic is already starting to offer electronically controlled pancake zooms that even support remote controls. I've heard that people aren't crazy about the quality of the footage from that lens, however it will adjust the focus smoothly as the zoom controls are used, which would make it pretty useful if you intend to use your DSLR to cover a live event.
I like the ergonomics of this, though. I think its cool to go handheld like that (even if it appears awkward), and will probably help reduce camera shake as well.
Ditto what M. Gilden said. Parfocal lenses notwithstanding, why would you offer power zoom on a camera that has no autofocus in video mode? Do they expect people to put a follow focus on one side of the lens and the Handizoom gizmo on the other side? Am I missing something obvious? Or are they?