DCI Compliance or "I-Cinema" compliance ?

I just came across this article written last winter that talks about the options for digital cinema exhibition for independent and micro cinemas. Ira Deutchman's new distro/exhibition company Emerging Pictures is trying to start a new digital cinema standard called the "I-Cinema Standard". The I-Cinema standard is an attempt to create a exhibition compliance which assures some level of quality without having to spend the money on DCI Compliant equipment.
Where DCI Compliance specs require atleast a 2K Presentation w/ JPEG2000 compressed footage, I-Cinema requires atleast a 720P presentation w/ VC1 or AVC/H264 compressed footage. Its a good concept that could raise the bar for small film festivals and micro cinema venues looking to offer their viewers and filmmakers an experience far superior to DVD-player-and-conference-room-projector type presentations.

Here's the list of theaters currently in Emerging Picture's digital "Network".