Well, of course it's a good idea, but if we do achieve immortality, there are three ways I see the world going.
1. Storing immortatech (bad name, I know. Just work with it) in an inaccessable vault, so nobody can use it. We still make babies, and no overpopulation. But why have it in the first place, if nobody can use it, unless the technology is very expensive, and only available to the uber rich.
2. Everyone is immortal, and sex becomes illegal, so we don't overpopulate the earth with our immortal babies. Nobody is happy anymore, because their only partner would be their hand, and various toys and objects that they can find.
3. We kill everyone at a certain age, allowing us to have immortal technology in us, while still being able to make babies. But, immortality becomes invalid. Why have the technology if we're going to kill everyone?
I prefer if we don't have immortality, so we can still make babies, and we don't overpopulate the earth. We could live longer, but that's about all i see from immortatech. As for the supersoldiers, well, we could end up with every video game scenario that has the words super and soldier in existance. Or, we could see a dynamite/machine gun/airplane scenario again. They were made to make war obsolete for their various reasons, but they just made it worse. Or they could actually end war, but that's highly unlikely.
If DARPA does make life, but not super soldiers, then this could revolutionize how people are healed, and probably cut down medical bills by 90%.