Freaking awesome, man!
One suggestion: I don't believe this app does anything that requires ID_CAP_INTEROPSERVICES (that is, it doesn't need to open any driver handles). I may be mistaken about that, of course. If it doesn't, however, there's a real benefit to removing that capability as people with interop-locked phones could then run it. Note that the library used may try to do things requiring interop even though the app doesn't need it to.
In addition to its uses as a hacker's tool, I also want to point out that this app can be used to store files on the phone for easy transfer between computers. It's less convenient than true USB Mass Storage, but it works (even if you don't have the USB cable with you) so long as there's a WiFi access point that the phone and PC can both connect to.
Oh, and by the way, this app will run happily in the background if you use JaxBot's no-dehydrate hack. You can do other things then, even browsing the webserver from the phone's own browser! Of course, it will also use some resources.