Radical change in engine design could greatly improve economy, efficiency

They've decoupled the drive shaft from the cam shaft, resulting in no mechanical link between the piston movement and the valve movement. No timing belt or chain. Totally variable valve timing. Apparently this will allow much higher efficiency, resulting in much lower tailpipe emissions. Unfortunately they don't really explain how the valves work, it would have to be some pretty cool tech.

http://www.sciencedaily.com/releases/2007/05/070510093248.htm