with his valve timing arguments for the exhaust, he also draws on some of the Miller Cycle stuff, where by the supercharger forces all of the exhaust air out of cylinder etc. One of the problems with the Miller Cycle engines for cars (until Mazda used it in the 90's) was that they couldn't rev... I'd say the low revs that the V8 compressor ran at probably apply to this idea also- fine to produce compressed air, bad propelling a car. Also if you are forcing air into the engine at 3 bar, what fuel will you run? Diesel?
I'd say you're spot on dodge... most of the design of the combustion engine happened in the first 20 years of the car, and was all over by 1913! Someone would have done this if it were viable, especially if you could get 1.5 times the power from 1/2 the displacement. The only thing that's really changed in recent years obviously is computer control.
Still it's a better effort than that exhaust into cylinder drawing from that Corvette site