HDMI has issues, but it did one thing well:
Made it simple for consumers to connect A/V stuff.
Is it a bulky cable? Yes. Are the connectors very weak for the cable they are designed for? Yes. Was it a clumsy protocol (regarding the complexity from a technical view)? Yes. Was it ideal? No.
It did however make home theater cabling much simpler, and was a huge success from the end users perspective. We are on a forum that is on a technical website, and this stuff interests us. We debate the pros/cons of shit that 95%+ of the population don't give a eff about. So, while we know that HDMI was poor from a connector/standard perspective, it was a success from the end consumer perspective. It was easy for people to understand how to do it. You connect one cable, and have audio AND video. Done. The worst you would have to do is know which source goes to which which HDMI port, but you didn't have to worry about making sure your audio and video selections were on the correct inputs.
Personally, I can't wait for Cat5 based cabling. HDMI was nice for it's simplicity, but CatX will beat it IMHO every day of the week.
My only concerns are going to be related to the power going over relatively thin cables, and just data rates. Now, the stuff shown in this thread make me hopeful that the CatX cable can support everything, but until it's released (in production products) I am holding judgement.
I won't be upgrading my stuff though just for the cable. When it's time to upgrade though, I will definitely make sure that it uses this connection (if it works as advertised).