It’s not a totally new idea, but it’s a very nice implementation and they’ve finally made it really easy. I’d like to see some ability to edit the appearance of the widget to fit the design of my site. I think a 160px-wide widget would be great, too, because it’ll line up much more nicely with 160px-wide skyscraper ad units.
I’d also love to see some rewards for clickthroughs, or at least some stats on it. Presumably this will be one way they track fraud. What if I put the widget on a non-blog page, or make it invisible, or at the bottom of the page hidden below a bunch of stuff? Click-throughs is one way to tell. The video they’ve put together is really impressive. Have a blog? Then take a look at a new way to get more readers!