Somehow, I’m not impressed - it’s not the features (I get that they want to lower cost, etc.), but the fact that the screen resolution and other aspects are different, meaning that Palm is willing to fragment their own platform. I foresee an Android-like headache for developers, but then again, their online store needs to get into high gear (and have wider reach, outside the US) before that’s truly relevant.
Update: Engadget’s take, with video.