Here's a breif article on camless engines
http://paultan.org/archives/2005/07/...valve-engines/
Apparently MB has or is going to go into production of a camless engine. I recall hearing about their use in race cars. An advantage is you can eliminate most of the valve train and its power robbing characteristics and costs. Computers control everything on engines now so why not the valves. Imagine the tuning fun you can have