The market is continuously changing, the biggest trend last year where tablets, Android entered the market and that certainly changed the balance of smart phones. The concept proofs that you can do a lot of stuff with very little hardware, yet it remains intuitive.
With that concept in mind AC Ryan started developing a new media hub slash player, in fact I shouldn't call it a media-player really as it is much more then that. The end product is called the Veolo. The Veolo is AC Ryan's version of a media 'HUB' powered by Android 2.2 (Froyo). Read the review here.