1. Building on top of IMAP is very difficult. It's not a technology that is really designed for the mobile world of today (e.g. streaming, sockets for chat)
2. Threading is a bitch. The old folder tree layout is formidable.
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That said, it's so cool to see something like this in the wild. As an engineer, I would've used this as a boilerplate for my project years ago, and it would've saved me literally six months of efforts.
Kudos to this. It's gods work.
Free startup idea: Use this to help larger businesses collaborate more efficiently (much like if Yammer and GTasks had a baby).