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This would mean that you can directly print from your mobile to the local printer or access other PC's on your LAN. Note that I am also referring to access via Dongle as Mobile access though in practice I dont see much point of people just using dongles when they are in their Home Zone. Every laptop/notebook/netbook is now Wifi enabled so this situation doesnt benefit much for the dongle access.
I am sure there are quite a few unresolved issues with regards to the Security of the data, the IP address allocation, QoS, etc.
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There is also a small presentation here that gives a bit of idea on LIPA.
As usual any comments, insights and references welcome.
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