I wouldn't panic yet, this thing's existance has been approved, but it's probably going to be regulated out of existance like most other bits of private flight equipment, or at least treated ENTIRELY like a plane (which seems to be the way it's leaning) meaning you won't see any more of this than you do now since pilots are the only ones who will be able to use it.
Simply put I love the idea of flying cars and such, and while we could make them, coming up with a valid traffic control system would be difficult if everyone was to start using them. Not to mention issues like how you "pull them over" to enforce laws, and of course deal with the potential abuses, cops chasing a thief who flies off in a car is goiong to be far more difficult than chasing one down on the ground.
I remember a while back that "Popular Mechanics" had instructions on how to make your own Gyrocopter. It apparently never caught on because there are apparently laws about how far people can get off the ground without needing all kinds of liscencing and so on.
Not a bad idea because the last thing we need is drunk drivers crashing Gyrocopters, or air-cars into the roof of your house.
The bit that really disappointed me however was Jet Packs being pretty much regulated out of existance. I remember back when "Robocop 3" came out and as a promotion they had a guy flying a real Jet Pack back and forth outside the theater they were showing the premiere at. I figured "cool, those are going into mass production and eventually everyone will have one". Nope, not happening, it apparently requires a lot of approval to use and is forbidden on public property.
Heck, in a purely landbased sense the Segway was apparently banned through large parts of the country because it gave people too much mobility, and it was felt that the police departments would have to either equip ALL their officers with them, or ban them.
Ah well, enough rambling.
... I did think someone came up with this (car to plane) a long time ago though.
