Hell yeah is right; I would have sold my soul to have one of these bad boys as a kid.
Alas, me and my cronies all had the vanilla bigwheels, although there was this one douchey kid at the end of my street who had one and we'd tolerate him just to see this thing in action (and possibly get a turn on it if he wasn't feeling particularly douchey that day)
Nope. Unlike the bog-standard Big Wheel, this has rear steering, with the front wheel used only for power.
Saw one of these at a thrift store earlier this year, and was sorry there wasn't a kid in the family I could buy it for (they already have bikes and could I even afford to ship the damn thing 400 miles to Southern California?).