Hard to imagine what else one could even want a launch system to do (except perhaps to be a nuclear turborocket ala http://www.youtube.com/watch?v=C46Dt-X0V8c , if that were politically feasable). And you can hardly say that of anything SpaceX is doing, given that those are simply incremental improvements of existing rocketry tech.
Presuming they ever manage to make it work (which is prob the big question), it should bring significantly more to cheap launch than SpaceX ever could on their current trajectory.