That being said, I've heard him talk about this chips for years and it is great to see it finally see the light of day. If you were familiar with the Transputer technology, this is a better take on that, if you are familar with FPGAs you can think of it as an FPGA with processors instead of CLBs.
Things that it can do are similar to what Intel is doing with Larrabee or some of the CUDA stuff that nVidia has done. It doesn't have a GDDR3 interface to a GB of memory so you can't custom build your own GPU, but you could do your own PhysX type engine with it.
It also makes a helluva differential cryptanalysis tool, or a signals analysis tool in general.