$25 Pocket Computer

This is quite simply amazing - a whole computer on something the size of a typical flash drive. Well, short of any long term storage though; you'll need a SD card, external hard drive, or something similar. It's still in it's early phases, but David Braben, the leader of the foundation making the computer, is certain it will be around the $25 (USD) price range, despite the custom PCB. A drawback is that it runs on an ARM processor, and it's specs are rather low compared to the typical modern computing device. The ARM processor won't run Windows or OS X, but then again, even if it had a x86 processor, the specs wouldn't get close to the minimum requirements. Still, at roughly 2.5% the price of a typical low end laptop, it's got some rather decent specs.
Here are some early build specs:

1. 700MHz ARM11
2. 128MB of SDRAM
3. OpenGL ES 2.0
4. 1080p30 H.264 high-profile decode
5. Composite and HDMI video output
6. USB 2.0
7. SD/MMC/SDIO memory card slot
8. General-purpose I/O
9. Open software (Ubuntu, Iceweasel, KOffice, Python)

Go to http://www.raspberrypi.org/ for the official foundation website.