I find Subtext (soon to be called Juncture) highly interesting, the basic premise is true (we are restrained by text) and the solution looks like going in the right direction, as less work and easier reasoning are always welcome. I still wonder how will that extend to huge systems, but I'm willing to let it pass for now.
Check the video on it and you'll be surprised. You might love it or hate it, but it will surprise you. That's just how it is with great ideas.
You should also check Jonathan Edwards' (the author of this experiment) blog, Alarming Development.