I just saw this thing. Holy smokes! At only $35 you can program it to do anything you want!
Right now Linux only, but an Android OS is on the way. 512M RAM, dual USB ports, ethernet. Touchscreen compatible. Will run off of most phone chargers or even AA batts. Has analog or HDMI display leads. On-board soundcard (great for alarms). It's designed and built by a non-profit specifically to provide computing education to children. So it's designed for people that aren't programmers and has a very robust support/educational component. I'll be getting at least one!