The big problem with this is that it's just one server. I'm working on something called "NodeRed" (har har) that lets one scale out the frontend using Redis for communication. It's generic enough to do PUBSUB, chat, games, etc.
I'm working to accomplish something similar with Redis's pub/sub and Rosepad Socket.IO for handling persisting the client connection. If anyone has ideas questions or suggestions related to this strategy or these technologies I'd love to talk, email is in my profile.
http://gist.github.com/364845
A little clearer, about 25% shorter, pretty fun.