I'm very excited about this kind of work because it eases the guilt I sometimes feel when eating a real animal. It seems that the technology is only a few years away, but I think acceptance by the market will take much longer.
As opposed to yoghurt, tofu meat, twinkies (and other chemical and corn syrup concoctions), whey protein products and bars, spam, meat slurry http://en.wikipedia.org/wiki/Meat_slurry