As a concept, RWD sounds great - you design and build web applications/sites without being influenced by the device a user may use it on - so you basically are not restricting your design to work well on a few devices, thereby being able to cater to everyone on any device. Apart from allowing you to make your app/site universally great for everyone, it's also supposed help save money as it doesn't require you to make new versions of your site every time someone like the departed Mr. Jobs comes up with a new form-factor, or his dreaded competition launches a new smartphone boasting a new screen size and/or resolution.