The negativity to this device amazes me as much as the "OMG It's So New!" hue and cry coming from other directions.
This isn't really much more than a new variation of the old Windows CE handheld PC devices. But speaking as an executive who actually "does something", this device is a godsend. I'm always looking for a small lightweight device I can take to meetings for note taking. Tablet PCs and notebooks are larger, heavier, have shorter battery life, and...the instant on feature is a killer app for me. With laptops I either have to change the battery settings to it doesn't go to sleep in the middle of a meeting, or keep smacking the keyboard to wake it up. If I need to make a note of something somebody said, I can't hold up the meeting for 5 minutes waiting for Windows Vista to restart.
It is a niche product to be sure, and the price needs to come down (I've heard the same criticism about iPods and mobile phones too). But I easily see myself using this as an accessory to my desktop if it actually works as promised.
BTW, it is "Foleo", not "Folio". I have no problem with criticism of the product, but we should at least get the name right