Seems BFL are responding with a Monarch prototype.
it does not take a lot to make a prototype board for demo purposes if you don't show the ASIC chip more smoke and mirrors.
That's right, exactly like the smoke and mirrors boards KNCminer were showing photos of until two days ago when we saw the first chips. If you look at the picture, there is a lot on that BFL board, a Cyclone FPGA, an Altmel 32uc3, it's no toy.
I bow to your expertise and hope you are correct in your assessment in that I have one of these beasts coming...