Well if you want somehting cheap then find a old P3 at the salvation army or something like that. :) It'll run circles around this and the price will range from free to 50 dollars.
With the gumstix you can take the device, slap a lithium-polymer battery (or any RC car battery pack) to it and let the sucker run for weeks in your backpack. Doing such things as a mobile personal webserver, bluetooth sniper, gps tracking device, or whatever else you can dream up and slap into a USB port.
I took a long hard look at the old gumstix stuff do do what I wanted, which was a combination mobile wireless file server, gps tracker, and mp3 player, but they didn't quite have the level of processing power or I/O options (USB options and also internal limitations) to really pull it off. But with the Omap 3 series.. this opens up a whole new land of computer geekiness.
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With S-video and DVI options you could turn any body's television or monitor into a add-hoc Linux workstation.
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Another thing I would like to see is a 10inch netbook formfactor with the ARM system embedded behind the screen and the entire mass of the laptop under the keyboard be a fairly large lifepo4 battery, or whatever.
This thing would run for days and days without a recharge. These newer ARM systems make the old Geode stuff used in things like the OLPC seem like ancient, slow, and energy wasteful technology.