I was always wondering why not use electromagnetic solenoids to actuate the valves. you could free up a lot of friction by eliminating the valvetrain, and make an infinitely variable cam timing profile. You could use a valve with a magnetic stem, and reverse polarity of the winding to close the valve and hold it closed.
This idea, I'd like to see more of how it works, I bet one could make a similar valve without needing air pressure, just running off oil pressure. You would need good oil pressure at all times, so that would be one drawback.