I wouldn't call this a next generation browser. What I'd like to see is a browser that eliminates the url bar. I don't know how that would be done and you'd probably lose functionality along the way, but from a UX standpoint, it sounds awesome. I would like to browse the internet with only a touch screen; maybe integrate the zoom-in touchpad movement with link previews. Anyone?
What?! I'm so against this-- I think that my first understanding of the internet really came from looking at url structures as I surfed. It made me realize where I could explore, what subsections I could change to get different results. Sure, it's meaningless to the general populace, but it's still a good feature. Additionally, if there wasn't a url bar then it might be harder to detect phishing.
Don't be so critical about crazy ideas; people who invent are only successful if they think outside the box and don't carry much concern for the constraints that currently exist in present day systems (like phising, url structures.... forget about that)