I like it.
I really like it. If I had only one computer, I guess I'd want something expandable and huge, but I own three (one in parts) and have another lent out. It's not a great "only" computer, but it looks like a nice addition to the network. You could own two of these, and it wouldn't feel like "oh, I own two computers, this desk is too crowded."
It certainly beats your standard tower case in appearance. It looks like a "modern" television. If there were TVs that looked like that, I'd want one. I'm sure this will do double-duty as a tv, for some people.
I hope it's quiet, and lacks a fan. I hate my computers that have noisy fans. Ugh. That whirring noise makes me yearn for an old 16 bit computer without a fan. I've only owned two computers with fans, and have tried hard to silence them 🙂
I'm glad it wasn't a PDA. That's not very interesting. I'm kind of bummed it wasn't a wireless screen/tablet thing. That would be pretty cool, despite the fact it would be pretty useless for most people.
What I'd really dig is if Apple would make a hardware "quicktime player". It'd be a little like the teensy vaio with the camera, but without the annoyance of an OS to manage. It would just play DVDs, record video and audio, and let you do some basic photoshopping and editing.