If it came with Kevlar reinforced elbows and some sort of waterproofing like Gore-Tex or Micro-Pore I think they would really have a winner. I think they could get $300.00 for a model with all their tweaks to a photo vest and state of the art all weather materials. Include a couple pockets that are sealed well enough to be submersible to keep your most valuable electronics safe in even the worst conditions and combined with a truly Gore Tex type shell, you'd have a real winner. Of course to make a couple pockets completely waterproof would prevent them from using the PAN channels built into th evest, but technologies like Bluetooth wil mitigate teh value of wire channels for the type of geeks who would buy something like this (me).
If these guys would get together with North Face, I thik we'd reall have a go anywhere garment.
With the available fabric choices, I'm on the edge, but not ready to buy one yet.
jmx