I see what you mean. It echoes another of my major complaints with impulses: 3 positions? $%&# off. Mic placement is an art in and of itself, and though the boundaries are finite, the variability is infinite. 5mm and 15 degrees away from your current, poor sounding placement could well be a kickarse placement. I can get an OK placement in 5 minutes, but I can also quite cheerfully spend hours refining a mic placement. Moreso when there two or more involved (phase, bitches! It can make or break you; kills noobs on contact; invaluable tool if you know what youre doing).
It all hinges on the ways it can recieve and relay a signal. If it can take a line in and send a line out (and why the $%&# wouldnt it? If it doesnt, thats a serious oversight) then you should be able to profile any pre, and then run it into any power amp, cab, speaker, mic etc etc etc. Power amp is another matter, since no matter how you capture the power amp (if its got a line in that it can profile from then you should be able to) youre still going to have to run it into another power amp after that: there are many obvious issues with this.
The other obvious thing to do is profile an amp through multiple cabs/speakers/mics/rooms if possible, etc etc. That is a potentially infinite job, even for one amp, so you'd have to pick some favourites.
Its pretty clear that theres a lot of possible homogeneity similar to the modeller+impulse homogeneity that we currently hear possible with this, but the usergroups would likely see to it that there are dozens of profiles, hundreds even, for dozens of amps. Its a far more flexible system than model+impulse.
It also pretty much cures the non-reproducability of an amped sound that I was on about before. You can capture the amp, settings, mic and location and use it again at another time. A 'save as' button for mic placements! That alone is very valuable (to me at least).
I need to find out more about it (like if it can profile a pre alone) but if the price isnt too extortionate, I may well buy one. It looks very promising indeed.