I have to say, I actually prefer the sounds of this over limited activation DRM. Obviously people have different concerns over DRM and mine has always been the concern of running out of activations due to the amount I upgrade my PC and the nymber of rebuilds I do. I personally don't mind having to be online to play a game, I'm always online anyway so it makes no difference for me, and if my ISP is down which rarely happens then I would just not play the game for the few hours it would be unavailable, not really a big deal.
It must suck for people who don't have broadband access though.
I just hope they don't start trying to turn this into a money making scheme. I can almost see it now, force the customer into having to use online storage for save games, then bam, limit them to a small number of available saves and charge them if they want more. Hopefully thats just me being paranoid though.