This will actually be really good for bitcoin!
Bitcoin will become more approachable to the common person, who will be able to buy a bitcoin in minutes or hours instead of days.
Imagine being able to instantaneously buy bitcoins - I mean truly really instantaneously - from bank account to wallet file.
You'd still have to go through an exchange.
Buying bitcoins in Canada is already fairly quick. It took me about an hour the first time. direct from bank account to cavirtex via email. The transfer cost is higher though: $1.50