There are, however, a couple things that one should keep in mind.
1) Your competition is global and intense. (How many of you have worked with some of the better Russian or German developers? How do they get so good?)
2) Your pay must be set and comparable to a global standard so forget about silicon valley pay.
3) You are usually a contractor and have no safety nets. So save large chunks of your pay.
Ok, that said, maybe I can relate this to the original article by saying that I've literally seen projects completed about 3x faster and at least 3x cheaper than any other corporation I've worked for that required the workforce to be in-office.
Why? Well, I don't really have the answer. I can speak to my own experience in that I'm judged solely on deliverables. I don't really have a face and as far as the company is concerned I exist as my deliverables... so they better be up to par. The other reason is that working this way requires projects to be organized ON PAPER. Those who have worked at any corporation will understand why that is important. So many managers bullshit their way around doing things like clearly documenting requirements or tracking deliverables. This simply won't work in a telecommute environment.
I really do believe that if I were to hire a team to complete a project I'd do so on a telecommute basis. It's simply cheaper and faster if done correctly and thus gives any company that does so an advantage.
One last point: I don't believe any manager who is not him/herself an engineer is suited to manage such a team.