The whole thing is one big touch-screen (no physical buttons), comes with either 4GB or 8GB of storage, runs MacOS x (which means it links up perfectly with your new iMac/PowerBook, if you have one), features WiFi, BlueTooth, iTunes, and all other stuff.
Potential problems: touch-screens get dirty/smudged/scratched really quickly. It's not clear if they've done anything to deal with this. Also, battery life is noted as 5 hours. That had better be talk time… otherwise this thing will be pretty unreliable.
Price: $499 for 4GB, $599 for 8GB. Available in Europe: end of 2007.