Well here is a really nice UMPC running Windows 7 and the new Intel Atom Oaktrail platform. Here is nice demonstration http://www.youtube.com/watch?v=tRTtm9iGihc
The product hasn't hit the market yet because the Oaktrail processor hasn't been released. I am actually very happy to see more UMPCs because honestly I don't like the limitations and locked down nature of smartphones. Ram is unknown and pricing is unknown, but I here that something like this could potentially be 400-500 dollars. The specs are pretty crazy also. This is also being advertised as a gaming device it has two dpad mouse controllers and two shoulder buttons.
Operating System: Windows 7 Starter Edition
Screen: 4.8 inch 1024x600 capacitive touchscreen
Storage: 32gb ssd
Processor: 1.5ghz oaktrail
GPU: Intel GMA 600
Connectivity: Full size USB 2.0, Mini USB, Microhdmi, Wifi 802.11b/g/n, Microsd, and GPS
Camera: 1.3mp camera on the front and 3.0mp camera
The device seems really cool but I think it has two flaws it uses capacitive touchscreen, which doesn't work well with a Desktop PC OS and it doesn't seem to have that great of a keyboard, but everything else seems great. I also canceled my order on an Archos 43 because Archos seems to be pulling some bs with the ordering. I will be in the market for a UMPC soon, so this might be it. I think Ocosmos stumbled upon a device that is a Nokia n810, Nokia n800, Nokia n900, Viliv n5/s5, Openpandora, Archos 5, and Dell Streak killer all rolled up into one device. I personally would want to run Ubuntu or Meego on this.