I heard that it will run all iPhone apps native without any changes. And it will also have some kind of eBook reader built in...It looks pretty cool, we were looking at Kindles and other book readers but wanted to hold off until Apple came out with their product. It looks like this would be the better choice for a reader, especially for the Mac/iPod user I am.
What I really want to know is if it will run existing Mac applications (I don't think so) or just iPhone/iPad apps (probably). Also I would have preferred to see a USB port or three so I could pop in my thumb drive or other accessory.