Well it would almost always run better than the current chunked terrain method on any system. Plus LOD values can be changed depending on desired framerate.

For instance, if you render a 2 million polygon terrain with normal chunking at full view distance this will be very slow on the best hardware. With geomipmapping, it can be made to run fast on most any decent card with minimal loss of detail.

its a winning situation, no question. Terrain LOD is needed in a modern engine i believe. brute force only works with small levels with low farclip, even with chunking. Chunking as it stands is only good for increasing the terrain complexity, not improving framerate much beyond the gain by frustum culling the unseen chunks.