I think the term is just HD-Vinyl for now and a lot of people don't like it because....it ain't hi-def.
http://www.realhd-audio.com/?p=5622
The process seems to be quite digital in nature, what with the mapping and femto lasers and such. Supposedly gets played by a normal player so no real improvement in that sense. Still dragging a rock thru a plastic canyon in the end. I'd probably buy one to see what its like but unless they're generally going to be competitive...like $10 an album....probably not too interested. Haven't bought vinyl in ages already....