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Looks very exciting, and I'm really curious about what it means to be "pocket Windows compatible". Is that file compatible, or could it be possible that you can even run Windows apps... surely it's too much to hope that it has Windows Mobile also????
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I think it means (which would explain a lot of rumors, and confirm some of my suspicions) is that it will come out of the box ready to use Microsoft ActiveSync rather than PalmSource's HotSync, and will sync with Outlook rather than Palm Desktop. It's the logical progression to enhancing the PIM apps to look more like Outlook: make the integration with Outlook even tighter by using MS's own conduits. It also explains certain stock analysts' misperceptions of some of PalmOne's recent announcements.
At this point, I don't doubt there is another PDA coming from PalmOne. However, I do wonder if the all the hardware specs listed here will make it into the new device (especially @ the $400 price point). 3Mp camera + 1GB flash + dual wireless? However, if it has even a majority of these features, it could be a killer PDA.