Lambda the Ultimate

My first post. I've been reading LtU regularly for a while now and it is truly great. Many thanks to all who are involved.

Karl Fant of Theseus Research recently gave an interesting presentation, titled "The Simplicity of Concurrency", on what he believes to be a conceptual model that reverses the traditional view of sequentiality as simple and concurrency as complex. He focuses somewhat on a hardware implementation, but explains how it can be applied to compilers and programming at any level. The presentation is available as streaming audio or audio+video from

http://www.parc.com/cms/get_article.php?id=465

My summary would be:
* Introduce the idea of "data not available" (NULL) as an explicit concept (different from a NULL pointer or Lisp's nil).
* Introduce the conventions that
a) functions receiving all NULL inputs produce NULL output.
b) functions receiving all non-NULL inputs produce non-NULL output.
c) functions receiving mixed NULL and non-NULL inputs do not proceed.
* Given that functions do not proceed until they receive all of their inputs, they become self-synchronizing for one use.
* Blocks of functions can be reset for further use by feeding their output, switched through a NULL-notter, back into the input to form a latch. This concept is easier to explain with a circuit diagram.
* Given that whole systems can be built upon this model to be fractally self-synchronizing, such systems can be partitioned arbitrarily into sequential components such as threads.

Anyone care to correct me or Karl? I am by no means a language guru, so I may have a few concepts crossed.
Do you think this could be a foundation for building an automatic-threading compiler?