Couldn't agree more. I regularly use a HP12c, HP48 and HP50G. However, the emulators for all of those are really quite good (for hp12c, get the one from RLM Tools), especially when ran full-size on an iPad.
I am glad to see this effort because we really need some innovation in the world of calculators. The science of making them has stagnated in the late 1990s. HP50G isn't really different from HP48, first introduced in 1990.
I think there is a widespread perception that calculators are no longer needed, because we have all those computers around us. But that simply isn't true. Many people still need to calculate things quickly, and that requires a good tool: a calculator with a well designed user interface. This is where most devices and programs fail. HP worked on this for more than 20 years and got really good at it, until the unfortunate reorganizations that got rid of the calculator division.
I can't think of any other tool that will let me equally easily multiply numbers, convert hex to decimal, work with complex numbers, and compute a Laplace transform.
And even if you are in front of a computer and have a powerful mathematical package available, there remains the problem of the user interface. For example: I use Mathematica for lots of things. But just try entering numbers using engineering/scientific notation: 4.7*^-6 and you'll see this isn't good at all for rapid calculations.
I hope that someone will start where HP left off and design a better calculator using the huge computational power that we now have at our disposal. Without throwing away all the experience we already have.