The OutRunner was designed by Robotics Unlimited in Florida, and is currently on the lookout for funding on Kickstarter. It is hoped that the novel locomotion technique will be able to draw robot and remote control hobbyists to its clarion call, in order to make it realized. The OutRunner would spin forward, allowing it to take weight off the current spoke or leg before passing it to the next. Of course, prior to the first spoke actually leaving the ground, it will offer a little push, helping propel the robot forward. I guess it is somewhat akin to how we run, albeit it has the advantage of another four legs.
Since it spins, it would remain stable like a bicycle or motorbike, allowing you to steer it with a controller or smartphone app. During tests, the OutRunner managed to break the world speed record for legged robots at 45 mph.