It's a cool hack, but only useful for fast startup just at this point. It can't do network sockets (for obvious reasons), or things like gettimeofday or even fds just now.
I'd imagine that it has some overhead. So running it on production all the time would not make much sense. Because sometimes restarting a process makes it very hard to reproduce the bug.
But snasphost / restore would handle that case. The problem is - what to do with file / network descriptors?
Trace while running, take a snapshot when there's something wrong