With the space shuttle now grounded permanantlyI've always wondered why this idea that was being explored in WW2 by the Germans as a way of bombing the US hasn't been explored more fully as a way of developing reusable space craft

http://www.luft46.com/misc/sanger.html

Found a video:

I feel ICBMs made this approach redundant.

Good find though, not seen this before. Would it have beeen V3?

the ICBM may gave rendered it surplus as a weapon, but as a reusable space craft im not so sure, I mean even the rocket sled used to launch it is reusable!

as a method of getting small satellites to low orbit it has to be cheaper long term than the current methods?

It appeards the link was dead which has earned me a spell in the clink 

So as a remedy as I can't seeem to get that one working, here is the link to the luft 46 website (which is pretty darned interesting anyway!!!)

If you type silverbird into the search bar in the middle of the page it will find what I intended to post 

http://www.luft46.com/

Oh Snowy, I didn't answer the V3 question.

This wouldn't have been the V3, that was in fact made and was still in th experimental phase when it was over-run by the allied forces:

http://en.wikipedia.org/wiki/V-3_cannon