This has a lot of promise; so much of the cost of health care is bound up in records management that any possible improvement is a good thing. Naturally the downside is privacy and data security. Will this be an enterprise-based system, wherein records from a particular entity are retained in servers under the physical control of a health care provider? Or will Google become the main repository?
Just as interesting as the post on this topic at ReadWriteWeb are the comments; they run the full spectrum of reaction just in the first handful of shared perspectives.