For me, though, I'm filing this one in the wastebin, since it just isn't useful given the way I operate. With Quicksilver set to hide other apps when switching (which really helps keep window clutter under control), the little services windows are never there when I need them. And it's pretty tough to go hunting them down. Not only that, but since the software hasn't been updated in 2 years, it apparently is a little out of date with Mac OS X. It has a lot of trouble accurately listing your services, and the "Reload" button seems to simply load extra copies of your services, rather than doing an entirely new list.
But definitely A for innovation here. It's still a very cool idea, and you might find it works just great for you.