It most certainly isn't a belgian, and I'd hesitate to even call it a good american wheat. I've had it an have been thouroughly unimpressed. It is pretty one dimensional, and the pom flavor is barely there at all. Not to mention there is some kind of strange off-flavor in the finish. I don't have a developed enough palate to describe what it is. Maybe someone else can jump in here. I'm sure anything that we make as homebrewers will be better than the commercial version.
I think a problem that you might run in to is that pomegranates are fairly tart, and can completely overpower any of the hop or grain flavors in the beer. I think this must have been the same problem that the Saranac guys had. Their solution was to cut down on the pomegranate significantly so the other elements of the beer could be noticed. The problem with that is they used a very boring base beer to begin with, and relied on the pom to give it it's character.
So maybe approach it with a raspberry wheat recipe in mind, and that way the tartness is taken into account in the recipe already. Maybe substitute pound for pound raspberrys with the pomegranates, and see how that works. I've never had a good beer made with fruit extracts, but I guess it can't hurt to try that either.
sorry for the keyboard diarrhea
mike