I don't think this concept is really new. They want to encrypt program with HardwareId of the computer and add loader to run it. It's similar to other loaders: program can be dumped after it's decrypted in memory. Of course it can be done only in a place where it can run, which is some advantage.

I think it has to many disadvantages to be used. You can't distribute software on cds because every copy is different. You can't make trial versions, unless you encrypt only parts of your code, I don't think simple loader can make it. At last think what happens when user changes something in his computer and his HardwareId changes - he must get a new copy of product (even if this upgrade is for free...).

Armadillo can encrypt some parts of code, it's key can also be depend on HardwareId. It uses many dirty tricks to make cracking harder (nanomities etc.)