HP ReRAM Flash and Disk Replacement?

Today, HP announced a joint development agreement with Hynix Semiconductor Inc., to develop a new kind of computer memory – one that will employ memristor technology pioneered by researchers at HP Labs.
This memory, called ReRAM, holds the potential to surpass Flash in terms of affordability, total capacity, speed, energy efficiency, and endurance.
Previous to the prediction of the memristor by Prof. Leon Chua of UC Berkeley in 1971, there were three recognized passive circuit elements: the resistor, capacitor, and inductor. These three passive elements have provided the fundamental building blocks on which all electronic circuits today are based.