
For $25 you get a 3.3-inch wide board with a 700 MHz ARM11, 128MB RAM, HDMI-out, SD card slot, a USB port, audio jack and Broadcom VideoCore IV GPU. For $35, you can get a deluxe edition with an ethernet port and 256MB RAM.
The computer is intended to have a keyboard attached via the USB, and then attached to a monitor or TV via the HDMI.
Here is a video of the "beta" versions of the board in action: