I have not seen it but iI can't imagine it is as good as a blu-ray disc. The article itself calls it "good enough". If ti does a better job at upscaling standard DVDs to 1080p than my PS-3 or Toshiba HD-A30 then I may be interested in getting one for my standard DVDs. However, like the article says, "Home theater owners will clearly still prefer Blu-Ray." You can't compare.
Not only is the picture better but the sound is unbelievably better. I have a Yamaha 6.1 surround amp (yes, 6.1... another case where adopting a new format early gave me the toy first but made it obsolete real quick). It does not decode any of the HD sound formats but I still can hear a huge difference between a BR or HD disk. Even their standard DD or DTS mixes are so much better it's a bit hard to believe.
For the majority of people the Toshiba may be good enough. As Jimmy pointed out in another thread most people don't even have a 1080p TV. But for those who want the best picture and sound available you can't beat BR or HD.