I've played this several times, but it pressed itself into service again during our neighborhood New Year's Party. What is remarkable about this game is how "light" it is -- it requires almost no thinking or embarrassment at all, but creates an incredible amount of social lubrication. I don't think I know any game that does this job nearly this well. Ok, maybe Ray Mazza's "The Perfect Present", but even that involves a little reading and thinking -- but it makes up for that with more laughing!
Anyway, I sure wish I had invented this! Although I probably would have said "no -- this is too simple... who would spend $34.99 for this?"