Yup, and at another point (I think the "Core System" talk) it was announced that initrd is going away. It should be relatively easy to streamline Xorg startup (display, keyboard etc config is fairly static) and we don't have a display manager to worry about, so the main missing ingredient is sReadahead.

Well, once you boot you still have to wait several minutes at full CPU while metalayer-crawler eats your battery by re-indexing the contents of your cards. Let's hope the metatracker replacement will be lighter/more intelligent.