I read it as:
Standard Features
120 GB Flash based drive
Intel Core 2 Duo
10" LED Widescreen
Programmable LCD Keyboard
3G HSDPA, 802.11n
The only major flaw is that flash (almost?) always comes in 2^n size multiples, which would make a 128GB drive size more believable. Still, the whole thing seems nice but likely WAY too expensive to be marketable. 32-gb flash drives are running about $300 OEM cost, so a 128 would probably be at LEAST $1000 for the drive alone. This would push the cost of the complete unit into the $3000 range, I bet.