This functionality will be in the 3.0 release of the API which will come out when 10.1 is final. We are hoping to add support for dynamic layers at an upcoming 2.x release that will work with 10.1 beta/pre-release but haven't finalized those plans yet.
Derek,
just out of curiosity, will the functionality exist to PREVENT this as well. We have standards for symbols/colors,etc.. I would hate to think someone could just override it.
Anthony,
2.6 doesn't include that functionality. We are working on it and hoping to have it in the next release.
What you described is possible even with current JS API as you can talk to REST API directly. But I would recommend to wait for the release.
The reason that arcgis.com works is that the URL that you entered returns a regular layer resource which can be added to the map as a featureLayer. The same scenario should work on your own JS API based application.