Oct 4, 2007 Geek
This sounds to me like an interesting best-of-both-worlds compromise, particularly offline storage: web-based applications remain sandboxed in Safari, while allowing the ability to store data for faster access/offline access. Optimally, such web pages could be locally stored to run completely on the device, not needing to hit the web at all.
Ultimately, the question at this point is, when might something like this appear? Says Ars, “Apple is currently aiming for an unspecified ‘January’ deadline on these updates, and it doesn’t take a rocket scientist to figure out that it will likely be announced at Macworld 2008.”