Here's a site if no one has picked it up already:
http://www.mikeyguitar.com/
Mike is a luthier in Toronto who, with an engineering friend came up with this device. With the flip of a switch you can go either fretted or non fretted. The mechanism , if you can picture, is made up of half round frets, such as a dowel cut in half from its center leaving 2 half moon pieces, and sort of rocks into place. He happens to be a friend of my buddy Dave Wildsmith
http://www.davidwildsmith.com/home.cfm Dave tells me that Mike and his partner are in the process of negotiating with some of the major manufacturers; tricky stuff as they're known to take ideas without giving compensation. I hope to be building, or rather completing a build with Mike (believe it or not I haven't met him yet), of a Strat with 3 lo-imp pups as used in the LP recording. The project was started a year ago by my late good friend Mark Severn (see Dave's site), who was the premier guitarist in Hamilton, Ontario. He was untimley killed in a car wreck on July 2nd. of 2006. Anyway, as I refurbished a LP Recording with Mark's help, I was asked by Dave to complete the job on Mark's git. I'll eventually set up a short tutorial when I gat started on it, as the git is not in my possession yet, since I live in the Hudson Valley of New York and don't get to see Dave too often. (We did take Mark's goldtop LP and had Les Paul sign it for us this past Sept). Anyway check the site it's pretty cool to see it in action.