This is an interesting implementation of the memristor, but I still think the real breakthrough will be in the two state memristor [1]. Once memristor fabrication technology is mature, we are going to see a massive paradigm shift away from the Von Neumann architecture.
All the details are in the linked video by HP's Stan Williams. Definitely worth a watch if you're interested in the future of computing
1. https://www.youtube.com/watch?v=bKGhvKyjgLY (start at 38m for future computing implications)
EDIT:
Another video [2], but a bit more in depth. Recommended if the material in the first was a bit confusing as Stan was short on time to explain some of the details.