This is a cool design. I actually saw a Mazda Miata one time that had some crazy spherical rotary valve design...it was insane, but seems like an AWESOME idea.
I think the removal of reciprocating mass in an engine is one of the best things that can be done.
the main problems with valves of that type is getting them to seal, traditional valves are pushed closed by compresion, these would want to be pushed out of their seats, and you are going to need the best air filter you can get, as any grit in there is going to wear on the valves, I have 220,000 miles on my car, and perfect compresion, and I give alot of credit to the air filter, as it's the orgional engine and has never been taken appart.