It's good to see more developments in this area, as I liked the management offered by projects such as SproutCore, but the stack as a whole was very heavyweight.
I did work on my own take, using some of the ideas from SproutCore, though didn't get very far in polish (http://github.com/erudites/eventful)
I've only had a brief look, but the dependency tracking looks much cleaner than other solutions I've seen for partial template redrawing.
Do Backbone and Knockout interact well, or are there conflicts in getting them to play nicely together?