It looks like it will be nice as a new view method in theater view.
It could be powerful if it were combined with the panes (or other kinds of filters). But if not, then it would be as pretty, and as useless as itunes cover flow.
[idea]
One way you could combine the filtering with the view method could be to have the albums grouped in (artist) bubbles. Those bubbles could in turn be grouped in (genre) bubbles and each genre could be spread out in space. You could just look left and right up and down to see the bubbles and then press enter to zoom in on one. (I'm thinking of the way mario moves through space between planets in super mario galaxy)
[/idea]
[moan]
Either way, I'd still prefer the current view methods to be perfected before starting any new ones. Switching between list styles jumps you all around the list, making quick switches between albums and that album's songs a distant dream. Also, the lack of grouping sorting means that when you switch between album thumbnails and details (grouped) you have to scroll all through the list to find the album you were looking at. The thumbnail slider behaves in a similar way with images, not zooming in on selections, making you scratch your head about where the image you wanted to see went.
I dont mean to be negative, but rather than introducing new view styles at the end of a software version, how about focusing on the user experience "as a whole", and working to unify it so that it is as comfortable as possible to flick between view styles/ panes/ library view etc. This means not having to start the browsing experience anew each time you switch a view style. It means you should be looking at the same files as you were before.
[/moan]