Niall - I'm not 'quick to write off new technology' I'd be a fool to do so. Fact is neither ethanol or hydrogen are 'new'. Both have been around decades and haven't got off the ground (without heavy subsidy). Hydrogen hasn't got off the ground past research stage.
The main problem is its volatility (highly explosive) and if it's not kept cool it emmits huge amounts of ammonia.
But the main engineering and commercial problem is as the energy per gallon figures demonstrate, it is 4 times less powerful per gallon than either petrol or diesel. Hence hydrogen test vehicles carry 2 large gas canisters in the boot space! It's like carrying 10 loaves of bread around when 2 handfuls of sugar would do the same trick.
As Autocars article states to run 5 vehicles they're planning 12 gas stations. If you have the same tank as a petrol/diesel car you will get 4 times less milage out of it and have to fill up 4 times more often.
And regards RED Kens and Transport for Londons plans that means 4 times more heavy tankers entering Londons Con-Zone to refill the gas stations.
There's 2 issues with emissions regards hydrogen. Firstly in the production of which on a commercial basis needs coal or oil to seperate the hydrogen and then alot of energy to compress it into a commercial package.
http://www.sciencedaily.com/releases/2003/03/030311074526.htm
Secondly the Hydrogen engine lubricants release more heavy metals than equiv petrol or diesel engines.
http://www.sciencedaily.com/releases/2007/10/071001100109.htm
Finally on the commercial viability. Don't hold your breath, it could be 2030... or never!
http://www.sciencedaily.com/releases/2003/07/030718084311.htm