I've been on the fence about how well this project would pan out after the airdrop, but I'm starting to see more evidence of a potentially massive success.
There is an actual Aurora economy already established in only 3 days. People are buying and selling 2nd hand furniture, cars and clothes with it.
Clearly, some people are dumping as soon as they can get there hands on it, but the coin's spreading. All it will take now is a slght increase in value and that will be it: People will stop dumping, hold and at that point things will get very interesting.
Iceland has capital controls. The reason it has them is because everybody hates the Krona (and did back in the eightees when I was living there) and would dump Krona for Dollars, Sweedish Krona, GBP, you name it if they could. The Krona gets devalued on the whim of successive Icelandic governments, resulting in the type of graph you see on the Auroracoin website.
If Aurora even gets a slights foothold, the central bank will have a dilema on its hands. They will increase Aurora's valuation simply by devaluing the Krona (which happens fairly periodically). Also, Iceland is a small place. You can buy second hand goods from someone and be round at their house in 10 minutes to pick it up. Real world goods exchanges are practical there and don't require Paypal and Fedex to complete the transaction.
As far as network effect goes, Aurora is now getting it in bucketloads. Here's a radio show where the DJ is chatting to a band who have just announced they're accepting Aurora for their misuc and merchandise. They have a chat about Auroracoin and how the band members are massively behind it. ("I think in a year's time we'll be able to buy beers down the pub with Aurora just like you can in other countries with Bitcoin").
This is going to be interesting I think. (If we can get past block 5400.
only 10 to go)"The Band 1860 Accepts Auroracoin"
http://www.ruv.is/mannlif/hljomsveitin-1860-tekur-vid-auroracoin
"Auroracoin 2nd Hand Goods Market Springs Up"
http://www.visir.is/bilar,-snjallsimar-og-haegindastolar-fyrir-auroracoin/article/2014140329024