Well in this case, it feels like you could easily substitute out the AJAX request with an inline iframe that would embed the asynchronous content into the page.

Well in this case, it feels like you could easily substitute out the AJAX request with an inline iframe that would embed the asynchronous content into the page. That's not possible, unless you have fixed-size elements or Javascript, since you won't be able to have the frame adapt to the size of its content. It's definitely useful in some cases though – I know that various social plugins used to work like this (I don't know if they do any more!)