Well if they can ever nail it down reliably, that'd be one sweet engine. Great gas mileage all around, huge low-end torque, perfectly flat torque curve that just won't die (until the bottom end explodes), and to top it all off, super-clean emissions.
Andy - I don't have a ton of experience with the iVTEC stuff, but I believe there's both. The base RSX/Si engine only has variable timing on the intake side, RSX-S has both. Not sure about a lot of other engines like the TSX (probably both) or Accord/CR-V (probably only intake).