Yes and those names are changing to Public and Private to make things a little easier to understand.

Would it possible to use this service to generate vanitygen addresses?

What is left to test then ? an 1/3 baked UI that act as a proxy frontend ?

Edit: Sorry, I should have read better

Update:

Our primary DC is under DDos attacks and causing some downtime.  This will be corrected soon and not be an issue during the public release with multiple fail-over servers.

Sorry for the inconvenience.

This seems interesting. I signed up to the beta invites waiting list.

New poll and site news coming shortly.

Update:

I'd first like to thank all of you that sent in comments and suggestions over the past couple weeks.  Our goal is to build the most efficient system available on the market and we couldn't have done it without you and your feedback.

We know a lot of you signed up and haven’t received an invite yet.  Our goal was to bring on miners first and then bring on the buyers, but even our top estimates could not have prepared us for the sign-ups we received in the first week.  We’ve had to add additional equipment to manage a whole new baseline of customers and ensure that our system is fully redundant while testing, implementing changes and fixing bugs.

With that said, we will begin inviting additional miners and select a group of users to purchase shares.  Our MTGOXUSD payment API is not ready yet so we can only currently accept Bitcoin payments.  Emails will go out soon to those first on the buying wait list. We’ll be manually adding these public work contracts as they come in until we have our automated payment system working with everything.  Please be patient with us, we are still in beta and want everything to be right as I know you do too.

Let the fun begin.

Site Update
Will will be updating GPUMAX within the next two hours that will take the system down for about 30 mins.  This update will address a few bugs, add features and enable purchasing on the site.  During this downtime your miners will be unable to connect to the system but should resume as soon as it's back up. 

At this time its important that you set your PPS price for your workers so when the update is complete you are ready to begin selling shares.

Thanks for all the comments and suggestions, now let the fun begin.

If you don't see a point in this service, you don't have to use it.  I do recommend you spend a little more time reading the information in this thread though.