Yes, you are correct. We could all live for 500 years and we will not see any of this technology commercially.
LiFePo batteries are the current technology, and will inevitably evolve. I don't believe most of the researcher claims for new technologies - the main reason for the press release is to get R&D funding so they can continue their research, not to bring a commercial product to market. That's why we only see 1 out of 100 (or less) projects make it to market.
Lithium batteries are available (for a price), and large-scale (i.e., auto) applications are here now. There are 3 competing companies in China manking these batteries and selling them all over the world. Price will continue to drop.
Go Lithium!