I like the idea of dedicated team members focusing on projects at hand, and not jumping from one project to another, which is what often happens in a corporate environment, and slows down development.

Some aspects remind me of the days when I worked on interactive media projects with the Human Element/Allen Interactions. A studio (group of team members) focused on my projects, using rapid development, prototyping, and usability testing of parts of the project – parts that were representative of the whole project … to confirm design and interaction met the goals… before implementation through-out the project and completion.