Using small peptides to develop small molecules

[HONNIT]

In reflection on today's Science article about small peptides and hormone
mimicry, I have some questions. I would like to get some opinions and
ideas on the process of using small peptides to develop small organic
molecules.  

Is it "pie in the sky"?
How real is it?
What products do you think will be the most likely candidates?

Thanks for your insight!!!!!!!!!!!!!!
-HON