I ran across this last night, but it evidently is slow to get out into the news.
Go to the ASUS site and select "global" as your area — there's an area on the left bottom side of the screen that you can click to bring up a nice bit of animation(the site's all JAVA, so I can't provide a direct link).
Prices will be $199-$299 — and it's not marketed as a OLPC, but a small basic laptop aimed at the younger crowds/college students/etc — who need more than a PDA but don't want it to be huge, either. It reminds me a lot of the Toshiba Libretto. Just under a pound."