1: http://www.terrafugia.com/images/photogallery/March10_2012%2...
2: http://www.terrafugia.com/images/photogallery/LeavingGarageW...
If you just want an airplane, you can get a lot more airplane for $279k. You can get a nice new Cessna 162 for $150k.
I'm not sure what the benefit of the concept is. You're only ever going to drive it from your house to the airport and back. A routine traffic accident will be very expensive and will attract unwanted attention and paperwork from the FAA and NTSB.
If you buy a regular plane you can leave it at the airport for very reasonable tie down or hangar fees, and know it's going to be safe and well cared for.
edit: Anticipating an objection, one could posit this is good for commuters. There is actually a segment of the general aviation population that fly themselves to a job in another city and back every day. You could use a roadable aircraft to drive to the office.
I'd say it's cheaper and better to buy a car and pay to keep it parked at the airport.
Still looking for any practical advantage. If anyone thinks of one I'd love to hear it.
Just thought of another possible objection: "But you don't have to get out, you can just drive into the airport and take off"... no, you can't. You're getting out of that plane to do your preflight checks or you have a death wish.
I doubt this is the final answer, but it's a good start.
No, it's not. You can buy lower-end models of Cessna and Cirrus at similar price... and Cessna Skycatcher costs only half of that ($149,900).
A used airplane is probably decades old. It's probably selling for a similar price to what it originally went for when it was new. Maintenance costs are high, but they were high when the thing was new, so that's not particularly remarkable.
I'd wager that the majority of light aircraft flying in the US today would qualify for "antique" license plates if they were cars. It's a substantially different market, where the equipment lasts longer and buying used is much more common.