I've always liked the idea of wireless mesh networks. [1]
But it would limit exposure to ideas, code and data by physical distances. Even expanding out Bacon-style along the social graph as people move about, it would be a huge step back for unfiltered communication. [2]
[1] It's a rather romanticized attachment, that originally hinged on people one-day realizing that having all your data primarily on other people's computers probably isn't a great idea.
[2] Though that, too, triggers appealingly romanticized notions of 'place', 'dialect' and 'local culture'. Which is to say: it would all make for great cyberpunk fiction atmosphere; I'm just pretty sure it'd still suck compared to the current state of affairs.