I'm not in California, but what the lipay of Santa Ysabel are attempting is groundbreaking, and should not be dismissed out of hand.
The implications over whether or not internet poker is/should be considered Class II gaming under the IGRA is the single most important issue surrounding internet poker today. It could shape the way internet poker spreads across the country, and put the industry in the hands of the tribes.
Even if PrivateTable is underfunded, quirky, sketchy on the regulatory end, if the attempt is successful and eventually deemed legal under the rules of the IGRA, we will see other, larger tribes, with better financials and with support from the industry, make the same move. It may be the way Pokerstars
gets their foothold in California as well.
If I were a California player, I would make a small deposit on day 1, and play for a while to see how it goes. If players don't support it, it won't be successful. But players should support it, IMO. It's worth the risk.