They first ones do look big - perhaps too big .. but the "spec" seems to say 7-inch screen as a maximum size.
They have integrated hard-disk (hopefuly very shock-proof), 800x480 display with hardware scaling for higher resolutions, lots more memory, probably integrated camera on one model, talk about integrated GPS on another, 900MHz CPU.
They run a full copy of XP - so they will need a lot of resources - but it does look interesting to me. Especially if they start building them with slightly smaller form-factor.
Of course, if they can run XP then I imagine that someone will get Linux running on them.

Nokia might just have got their box onto the street just in time.
Of course, if the prices are 750USD and upwards then there will be a clear differentiation and expectation but if they creep downwards then - I think that the official system speed-up needs to come sooner rather than later if they want to stop the next swathe of consumers jumping for the new UMPC machines.