Just thought I'd chime in and mention that if you look at the hashrate distribution list on Pooler's site, "Solo Miner #1" has had a very significant footprint on the Litecoin network since May (currently around 113 GH/s). It seems entirely within the realm of possibility that this is Beekeeper's ASIC farm (part of it, anyway). It appears that he announced conversion to ASIC happening in the first week of June...he was probably deploying it in the week leading up to that announcement. I had been watching those solo addresses for quite a while, just to see what the behavior of the miners was with regard to selling or hoarding.
In reading through his thread, it is abundantly clear from his posting that he's most definitely an engineer and knows his stuff. He's actually produced hardware successfully in the past, which people have received and used. So I think that alone casts significant doubt on the ponzi worries. He's got a pretty long track record, he didn't just appear out of nowhere. Also, typically in a ponzi scheme you never have real control over your income - they put it in a "balance" on their website and you end up needing to manually request withdrawals, which puts the outflow of funds in their control. Beekeeper actually pays out weekly directly to your wallet. It's a significant difference.
For me, it's a worry that his site uses whoisguard to obscure his registration details and we don't really know who he is, where he is or anything else that would enable anyone to seek satisfaction, if things went south. On the flip side, I can also understand why someone operating a very large mining farm would not want strangers to know their whereabouts or true identity.
Personally, I prefer to own my hardware and if my hardware were being hosted by someone, I'd want to see it. I'm not wild about cloud mining...I think it is centralizing hashrate way too much.