Okay, this is how I read the FAR's pertaining to RVSM;

...(c) Altitude-keeping equipment: All aircraft. To approve an aircraft group or a nongroup aircraft, the Administrator must find that the aircraft meets the following requirements:
(1) The aircraft must be equipped with two operational independent altitude measurement systems.
(2) The aircraft must be equipped with at least one automatic altitude control system that controls the aircraft altitude—
(i) Within a tolerance band of ±65 feet about an acquired altitude when the aircraft is operated in straight and level flight under nonturbulent, nongust conditions; or
(ii) Within a tolerance band of ±130 feet under nonturbulent, nongust conditions for aircraft for which application for type certification occurred on or before April 9, 1997 that are equipped with an automatic altitude control system with flight management/performance system inputs.

...further reading shows approval for both group and non-group operators to operate in RVSM airspace must be submitted to the regional FSDO in coordination with air traffic control. Certain flights are approved; air ambulance operations, DoD flights, transitioning through RVSM airspace to FL430 and higher, etc.
Also, operators of MMEL aircraft must obtain permission from FSDO for operating in RVSM airspace with non-functioning required systems...

So, for all those who say, "C'mon man, a real pilot would hand fly, blah, blah!" This Captain seems to have exercised sound judgement. RVSM airspace has inherently tighter tolerances requiring system functionality...unless I'm missing something, (or they filed for below FL290 the whole way).