Laser Guided Bullets

http://www.economist.com/blogs/clausewitz/2012/06/smart-ammunition?fsrc=scn/tw/te/bl/leftrightontarget
Fascinating!  But I wonder whether or not it's practical or economical for anything other than political assassinations and the like.  At this point we seem to be talking about small missiles.  I also wonder if such technology, attached to flying drones, will add a further dimension to traditional sniping. 


(Thanks for the link, Chris!)