Waiting for the other shoe to drop

I'm not sure what to think of this (via Instapundit):

It seems too good to be true: a new source of near-limitless power that costs virtually nothing, uses tiny amounts of water as its fuel and produces next to no waste. If that does not sound radical enough, how about this: the principle behind the source turns modern physics on its head.
Randell Mills, a Harvard University medic who also studied electrical engineering at Massachusetts Institute of Technology, claims to have built a prototype power source that generates up to 1,000 times more heat than conventional fuel. Independent scientists claim to have verified the experiments and Dr Mills says that his company, Blacklight Power, has tens of millions of dollars in investment lined up to bring the idea to market. And he claims to be just months away from unveiling his creation.
[...]
According to Dr Mills, there can be only one explanation: quantum mechanics must be wrong. "We've done a lot of testing. We've got 50 independent validation reports, we've got 65 peer-reviewed journal articles," he said. "We ran into this theoretical resistance and there are some vested interests here. People are very strong and fervent protectors of this [quantum] theory that they use."
[...]
But Prof Maas and Randy Booker, a UNC physicist, left under no doubt about Dr Mill's claims. "All of us who are not quantum physicists are looking at Dr Mills's data and we find it very compelling," said Prof Maas. "Dr Booker and I have both put our professional reputations on the line as far as that goes."

Here is the company's website. Is this going to be huge? Or is it just a big mistake/hoax? It certainly sounds too good to be true. But then why would other scientists corroborate the research? The earliest mention I could find of this project in the MSM appeared in the Village Voice in December 1999. Well, I guess we'll find out over the next few months.