Whilst this design would not exceed the angular resolving power of interferometric telescopes, it would have exceptional light-gathering and imaging capacity which would greatly increase the depth to which mankind could explore the universe.
If built, it would be the largest optical telescope ever constructed. It has been claimed that OWL would have more mirror surface than that of all previous professional telescopes put together.
See also: Very Large Telescope.
wikipedia.org dumped 2003-03-17 with terodump