I have no idea how this could possibly work, but it sounds incredible. Ad-hoc distribution for beta testing is still really painful.
Check their example.php -- you still need to manage a provisioning profile with device ids, but from there you just do Build and Archive and put the .ipa and .mobileprovision file alongside the above scripts. Their code extracts application info, including thumbnail, and builds a nice iPhone-formatted HTML interface. Any iOS4 device can visit your URL and install the app (assuming their UDID is in your profile).