Magnetoresistive RAM

This new development is interesting. Like flash technology, MRAM, is in its baby stages. Currently, the largest die is about 1MB in size (8mb). What makes this development important is that the memory cannot degrade. The transfer rates are also currently faster than flash memory and there's not one aspect concerning flash memory that MRAM doesn't live up to. The only possible drawback I could see with this technology is the mobility aspect. Like flash it will save memory when un-powered, but since it's based off of magnets it could pose a problem when being processed through a security checkpoint.

Could MRAM be modified to compete with Flash Memory in the not to distant future?