Seattle is hilly enough that I think that thing will be miserable to ride except on carefully selected routes. Only a 3 speed rear hub?
Look at Dahon folding bikes. 20" wheels, up to 24 gears (combine 8 speed cassette w/ 3 speed hub), also suitable for a very wide range of heights. Not as cool or as rigid as what you found, but a third the price too and more practical.
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I am not sure if it's because of my BMX days, but I am really wanting a Cannodale Hooligan with 20" wheels for a city bike. BTW: it would be great for my short stature. Any thoughts?
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