Ok...so this device is not primarily a GPSr.
Still, I suspect that it will be as big as the Gameboy was for the handheld gaming industry and the GPSr capability and its use in the games will be a big hit....if the cost is low enough.

It will be released in the UK first.
Their main website is Gizmondo.
(Flash needed).

Here are some news releases:
The Register in UK
Another The Register UK
Yahoo! News

Kenneth