The Drive's Impacts
If the drive works as described, it could reduce the costs to launch to those in the range needed to commercialize manned flight. They claim to be able to design a 2G shuttle using it for primary thrust.
Note that a consistent 0.01G (0.1 m/s² vehicle would be capable of making it to mars in a matter of days rather than months. It would be about 15 days, instead of 6 months, at closest approach. A 1G drive reduces closest approach to about 35 hours.
The drive as described uses energy conversion from frequency to kinetic force. Assuming the papers are correct, the measurements weren't fudged, and the apparatus actually operates, it's a potential revolution.
The drive isn't without consumables, however. The drive requires cryogenic cooling. This is as surely a limit as the fuel for an ion thruster. In theory, a sufficiently potent heat pump and radiator system could be used to provide both closed cooling and (very very) miniscule additional thrust. In practice, cryogenic coolants generally are open cycle; using them involves venting them.
The Impact of NASA Confirmation
The impact of NASA replicating the chinese and inventor's results indicates that the drive may have actual validity, and that the physics may be incomplete.
Primarily, it is a credible agency giving a credible result of "apparently works" to a drive that's revolutionary in concept - both concept of design and concept of mode of operation.
Secondarily, it's a clear "Conservation of Momentum needs refinement" result. Until the specific method is evaluated better, it's just a "Useful anomaly" rather than a deal breaker.
If NASA finds it cheap and credible, then it will get tested further (tho' not, of need, by NASA). If that testing bears out the initial findings, then it will lead to commercial use of the drive.
If the drive bears out in orbital flight the tested ratings, then the cascade through physics will include many new theory tweaks trying to explain it, and a lot of tests, until eventually a consensus explanation arises.
Ongoing Testing Note (added Nov 2015)
Just a note that NASA is apparently still testing the device. source: IFLScience, 3 Nov 2015