It works for 37 signals. It shows you that companies that treat their devs as people (like 37 signals) instead of resources or head count can develop superior software and somehow have their people happy without the need to make fake enthusiasm.

I would say startups are probably most likely to be able to take advantage of this.

BTW, this post makes me want to move to Louisville and join Ernie :) (not really, Chicago is really nice).