The reset/boot circuit is neat. I think it would be even better with a flip-flop (only 2 transistors needed) so that entering flash mode isn't time dependent.
The GPIO0 has to be held low for 15-20ms after rising edge of RESET in order for ESP8266 to enter into bootloader mode. And the held down shall not exceed 700ms because after that ESP8266 seems to output some data from GPIO0. This is the main design requirement of the reset/prog circuit.
Since I'm doing firmware development, I press the button almost every minute. Lua or AT developer probably does not need to flash the chip that often.
I'm now working on a newer version of the board with more intelligent reset circuitry.
Thanks for the post.