UK Skylon spaceplane passes key review

Here's a link to the assessment itself. Very nerdy with words n' stuff.The proposed Skylon vehicle would do the job of a big rocket but operate like an airliner, taking off and landing at a conventional runway...
...This power unit is designed to breathe oxygen from the air in the early phases of flight - just like jet engines - before switching to full rocket mode as the Skylon vehicle climbs out of the atmosphere.
It is the spaceplane's "single-stage-to-orbit" operation and its re-usability that makes Skylon such an enticing prospect and one that could substantially reduce the cost of space activity, say its proponents.
I'm sure engineering geeks such as Nerdshade probably has an opinion on this and whether or not it can work.
Just imagine what would happen if aliens were introduced to sausages? It'd be all out war.