It only concerns me that the browser chrome is removed entirely. At very least the status bar should remain to give the user an obvious "system" element to touch to return to the full chrome.
The screenshots in this article are deceptive. What the meta tag does is make Safari always look how it normally looks when you scroll down from the top of a web page. So, in portrait mode, there will be a small top bar showing the website URL. In landscape mode, there will be no top bar at all. Here's a screenshot from the other commenter's website on my iPhone:
have you tried it? don't be concerned it is very easy for a user to get the ui back by scrolling up. If you haven't hit any sites yet try ours here http://www.freeriderhd.com
before this change, playing our game was a real pain on iPhone this was a much needed improvement.