Well, it seems like we have at least established that this COULD be real. It's not conclusive at all, but it isn't a complete and obvious fake. So rather than go back and forth about if it is, let's entertain the notion that it IS real for a moment and speculate WHAT it is.
My guess: a next generation PDA. A PDA for younger, non business users. A FUN PDA.
A Video iPod with a touch screen interface and a full set of iLife type apps, plus iCal, AddressBook, Safari, Mail, and iChat.
I've suspected since the Intel announcement that they were eyeballing not only the Yonah and Memrom chips for laptops, but XScale chips for next gen iPods. I could probably find a post of mine from last summer to that effect.
The XScale is a pretty decent unit, both cost-wise, power usage, and in overall performance. Add in one of the ATI GPUs that some PDAs are sporting now and you would have a helluva little machine.
Anyone know if Darwin compiles on the XScale/StrongARM architecture? Would be cool it was "based on OS X" so apps were at least somewhat portable from Macs to the new Newton here.
If I'm right, I'll be sad, cuz I won't be able to afford one, or even justify one if I had the money.
EDIT: Who am I kidding... of course I'd find the money to buy this. ;-)