Grav, you may have missed the finer points of the design - the "trilobate" cams allow the power stroke to be refined, with a tunable mechanical advantage via the shape of the cam. If you were into bicycling in the late '70s, you may remember the "biopace" chainring, designed to match the load on the cyclist's leg to the amount of leverage available at each point of the pedal cycle. The cams in the Revetec do a similar thing. They also seperate the piston cycle rate from the crankshaft revs, meaning that you get three power strokes per crankshaft revolution.
I have no idea whether this recip will go anywhere, but it is definitely more of a change than just a gear ratio - if anything, it's a cross between a conventional recip and the Dynacam engine.