With regards to the deflation, it would be interesting to see some graphs comparing exchange volume with actual trade conducted with bitcoins. I'd be willing to bet we'd see actual trade drop off with the recent surge in exchange rates. Not sure how possible this would be, however - the charts on blockchain.info don't seem to be granular enough to pick up on such a trend, and it's hard to determine what is "trade" vs. bitcoins changing hands because of a sale on an exchange.