The specs sure look impressive. . btw, this is a Capacitive touch Screen. So the screen is suited for finger touch than stylus use. Kind of a negative for people with large fingers or those who need a precise form of input with the stylus. The 3.7" screen size does look like its not going be very pocketable, but then again, its 16:9 ratio, so it probably will be an acceptable size for a phone.
Not only that, it can play all videos with bit rate < 3mbps (including XVID and Divx) without any conversion. I have so heard rumors that it supposedly uses a TI OMAP 3 series processor running at 800MHz.