For the record, Pandora didn't fail completely. At the moment they are manufacturing the boards in Germany and assemble the devices in Germany and Great Britain and finally started shipping them.
Yes, they did piss off plenty of people along the way with poor communications, but they still managed to start building and shipping them, and new ones are of quite a good quality. Besides they finally have newer kernel, 2.4.27 made tinkering with the OS quite painful.
I've got myself one on ebay, and even though I had to fix a couple of things myself (first batch, meh) I really am happy with the device and I'm thinking of buying a new one, with more ROM. I mostly use it for surfing, email, minor admin tasks over ssh, reading books and of course playing games, at the moment my fav is Shadowrun for Sega Genesis.
The good thing about this whole thing is that they learned to deal with hardware makers and now know a couple of things about the process, so their next project should run smoother.
Maybe it's not particularly smart of me, but I'm very enthusiastic about crowdfunding, I'm backing several project on KS and that Debian Administrator Handbook liberation and several games at Desura. But I think I'll be able to tell if it does worth it only in a year.