In commenting on the Space Race story, Zach pointed out that the Moller Skycar is still under development (which is better than going bankrupt or just disappearing — like so many other good ideas have). If you poke around the site you can find video of flight tests and sales info. Yes, they’re taking deposits for deliveries they hope will start in 2006.
Meanwhile, the sky hasn’t fallen on the Trek Aerospace Millennium Jet either. It did a successful un-tethered forward flight test in early 2004 and the site claims more is in store.
For options available today (and for less money than either of these will take you for), you might look into the Rotary Air Force 2000 GTX-SE. For around $30,000 you can have an aircraft that can take off in less than 75 feet, land in less than 10, cruise at 80MPH (100MPH max), and burn only 6GPH.
You’ll need a full private pilot’s license with rotary wing endorsements, but it could be the ultimate commuter vehicle.