Let's just call it what it is. The Cisco Ūmi is FaceTIme for your living room. As such, it's a pretty cool idea.
Cisco wants you to pony up $600 and $25/mo for the privilege.
Are they nucking futs?
For the same amount of money you literally could buy a mac mini and a webcam and plug that in your TV. You could then download Apple's FaceTime software for free and chat with your similarly equipped friends with no monthly cost at all (besides your Internet connection, which you'd have to pay for with Ūmi anyway).
I may have been born on a Saturday, but it wasn't last Saturday.