This is literally only as fast as text to speech. the only difference is that you don't have to speak aloud. Which is cool.
But for using a computer its still annoying and worse than a mouse because with a mouse you can click or drag and place in a second, in this format you have to think "move the box from point A to point B (with coordinates or a description) etc etc".
I think its cool, I've been brainstorming how a good MCI would work for a while and didn't think of this. I think its a great novel approach that will probably be expanded on soon.