Well, there in lies the biggest problem.
The scripting langauge has changed somewhat so old school table authors will have to completely re-learn how to make takes. Also there is the question of artistic talent. It's real easy to, let's say take a picture of the space shuttle on the Start Trek TNG table at the appropriate angle to use in place of the prop in the existing "flat" vpt tables. The same goes with textures. Unfortunatley, it takes quite a bit more skill to re-create that model in a 3d modeling program, shade and texture it properly, add in any needed animations, and get the mechanics of how it moves just perfect for when the ball comes into contact with it (no more fudged physics).
I have no doubt that it will be released and that it will be a great tool and simulator. I just have severe doubts as to if enough people will use it that we'll ever have a good collection of tables like visual pinball does.
Also did you notice that section with hardcoded keys in the screenshots? That's not cool, you'd think he'd know better by now.