BeagleBoard.org(Texas instruments) announced a new open-platform, hobbyist-focused development board -- priced at just $89 and equipped with a Linux distro that boots in ten seconds. The BeagleBone offers an ARM Cortex-A8 processor running at 720MHz, 256MB of RAM, two 46-pin expansion connectors, a USB host port and multipurpose device port, on-chip Ethernet, and a microSD slot.

http://beagleboard.org/bone