Folding bikes are awesome for city dwellers that don't have a garage to stow their bike in; rather than taking up a huge chunk of space in your apartment, it neatly folds up and fits in a closet or a corner. The problem is, when a bike needs to be folded up, it's often more than a little goofy-looking when unfolded and ready to ride.
Cannondale, one of the premiere bike companies around, has a new prototype for a folding bike that actually looks pretty awesome when unfolded. The Cannondale On features a hydraulic pedaling system, ditching the traditional chain and replacing it with one inside a fiberglass "fork." It can fully detach from the rear wheel without having to mess with the gears or brakes at all, so popping the back wheel off is a snap. It's a pretty hot design, one that I wouldn't mind having to ride around NYC if it ever gets out of the prototype stage and into shops.