Well, it's pretty slick. You would still need some form of FTDI chip (or similar serial interface) if you want to capture serial print statements. It looks like it uses the USB for Bootloader only.
Not clear how compatible it is with the IDE... but it looks like that's been addressed somewhat. The "so called" mistake on the pin spacing seems to have bothered the developer enough that they "fixed" it.
Otherwise... it looks very compatible since it uses the same basic design.