ok... lots of virus products do what the SV40 large T does (ie adeno E1A ) it interacts with cell cycle controls (pRb etc). Without getting into the gorey molecular bio of the cell cycle and hES cell bio here is why this developement is awesome.
1) Before, we knew a couple of transcription factors are required for pluripotency (oct4,nanog etc) and knew some of the extracellualr signals that induce them (WNT.. PDGF..)
2) we did not know that a differentiated somatic cell COULD become pluripotent (aka reprogrammed) and thought that the condensed chromatin would not allow such
3) we knew cell cycle control (pRb, p300, p53...) was tightly linked to differentiation in cell models but did not, and still dont know, how this is linked to pluripotency.
However, these papers shows that the regulation of pluripotency is not completely separate from cell cycle control and manipulation of differentiated somatic cells into pluripotent cells IS possible.
Admittedly, more work needs to be done to address your concerns, which would constitute overcoming a technical barrier.
dont get distracted by the basic science, we should leave it to the PhDs anyway. But if/when it does come through and a simple skin biopsy (or already banked cord blood cells ) can be induced to become patient specific pluripotent cell lines that can yield cardiomyocytes, hepatocytes, pancreatic islets... dont you think a pathologist is going to be HEAVILY involved in this? dont you think that there will be some profit there for pathology??
and thanks for the actual info biodoc...