I'd want to see proof that they have actually ordered hardware - I don't see anything on their blog or in their FAQ about their actual hardware orders. Without proof, I'd be leery that they plan to purchase the hardware with the money they collect for "contracts" (or not purchase hardware at all and keep the money).
It is worth watching, but I would definitely wait until they have hardware online and mining before I sent them any money.
Contracts are limited in quantity so pre-order now as mining begins in September 2013.
Don't fall for the scarcity tactic.