Seems an optimistic timeline to 'reinvent' memory. They have perhaps forgotten about 'bubble memory' which was going to 'eliminate disks' in 1982.

From the article : "As reported by The Register, at a recent conference in Oxnard, California, HP’s Stan Williams said that commercial memristor hardware will be available by the end of 2014 at the earliest."

So basically we'll get to see real devices perhaps at the end of 2014 (I'm guessing closer to 2017 but we'll see) And we need a couple of years of building/using/repairing them before we see wide spread design wins, then another year before 'memristor' enabled devices hit the market and are or are not competitive.

That said, I'm rooting for them to be successful, flash is in a bad way at the moment with feature size being a hard limit on cell lifetimes.