FAIL.
FAIL reason #1: Every other phone platform already has multitasking
FAIL reason #2: Windows Phone still doesn't have it, you must wait another 6-12 months for it
FAIL reason #3: It still won't be true multitasking for 3rd party apps, just a fast switcher
It's bizarre that Microsoft creates fanfare for multitasking, just like it did with Copy & Paste (which most Windows Phones still don't have). Nobody is going to get excited.