As a user I definitely appreciate the emphasis of privacy first as well as its clear responsibility for identification. However, from how I see it on the surface, it currently doesn't have the market reach as, say, FB Connect or Google, and I don't want to "flood" my users with too many options for authentication. What's the practical arguments of rolling out my own authentication (Rails + Devise) vs using Personas?
It's available to any user with an email address -- you don't have to limit yourself to users that have, and are willing to use, a Facebook or Google account.
Versus rolling your own, you don't have the friction of account creation / password management for new user signups if the user has ever used Persona before, and we'll be dramatically improving first-contact before the end of the year. You can completely forget about storing passwords. You don't have to send email verifications or handle forgotten passwords.