ARM Cortex-A8 Superscalar CPU
TI IVA 2+
Imagination Technologies PowerVR SGX 530
2 SDHC card slots
WVGA (800x480) Touch Screen
Dual analog control nubs
Digital control pad and buttons.
OS will be an embedded Linux distro
System's a clamshell. First and foremost, it's a UMPC class PDA type device with tuning and intent leaning strongly towards gaming and games. TI holds them up as one of the main initial customers (along with the Beagle Board community project that the TI people kick-started...) for the OMAP 3430/3440 SOCs- and they have had dev boards that even many TI'ers don't have access to playing around with the initial BSP work.
Right now, I'm waiting to get my MK0 dev unit to start my work on things.