It is a cool idea. I tried biking to and from work for a while, but it took me about 1:40 from work to home and about 1:20 from home to work (difference between a lot of uphill and a lot of downhill). I used to drive in with my bike one day, then ride my bike home. I'd bring my second car in the next day, and the third day, I'd ride my bike in and drive the first car home. Now, I can't do that, as I have only one car. I'm also definitely no longer in good enough shape to do 3+ hours of commuting by bike per day.
In an urban area or if you lived closer than I do, this bike could be great.