Probably not, but at $80 it may become many people's go-to solution for impromptu everyday captures. And although it's currently capped at 16bit-44.1kHz, I imagine it's only a matter of time before a software/firmware update takes care of that.
Perhaps someone can shed some light on this: This device has it's own D/A converters so it's not relying on the iphone's capability to do this. Would this mean that rates beyond 16bit/44.1k would be possible?
Also, as a note, Tascam says that the mics are adjustable up to 180 degrees front to back, so at least there is a limited amount of control over the stereo image. And regarding the quality of the preamps, they are the same as those used in the DR series. I have a DR-680 and can tell you that they are not very quiet, however they are quite acceptable if you're not recording ultra delicate or sensitive sources.