This topic has gone way, way off track. From bitching about the 'failures' of fuel cells to fake green credentials, the El Reg usual suspects have been remarkable slow in picking up the key parts of this storey.
1) You can carry the energy equivilent of 45l of Hydrogen in a one once package
2) Nobody is going to care if you spill some.
The 'failure' with fuel cells has always been the difficulty in supplying them with hydrogen in a safe and convienient manner. There use in cars (or laptops) currently requires distribution and storage of very highly compressed, and massivly explosive, pure hydrogen. This technology potentally removes that problem by allow the hydrogen to be created on demand requiring only locally sourced water.
The 'green' argument around energy use is a complete distraction here. Even if the production of the raw materials was very expensive, the 'green' question we should ask is if it is less expensive then the current ways of solving these problems with fossil fuels, when the production, distribution, storage and safety are also factored in.
A car using this technology would produce no pollution in use. To recharge it would simply empty its (non-toxic) waste tank, refill its fresh water tank, and top up on catalyst. Oh, and it doesn't use any non-renewables. What is not to like about this idea?