Managed ETF's: Good, Bad, or Ugly?

I've been reading some articles about a new investment vehicle, known as the actively managed ETF, which was recently approved by the SEC for implementation. According to Active Trader Magazine dated April 2008 p.g. 64-65, unlike traditional ETF's, which passively track an index, actively managed ETF's will function more like a mutual fund, with fund managers responsible for the composition of the fund. I wanted to get peoples thoughts on what they think about this new vehicle. Here are a few key points:

1. The SEC is limiting the amount of trades a fund can make in a week and all trades must be done the same day.

2. The fund's holdings must be posted online before the beginning of each trading morning.

3. Critic's claim these will be more expensive and less efficient than a traditional ETF.

There are many articles discussing this point, which can be found on the web, but I wanted to get other investor's input. HAGO Justin