I like it. I can only see System on a Chip tech make it all smaller! even smaller still...
Now, form factor is an issue... qwerty is nice, but since I'm 6'10 and my hands are enormous I don't think there's a single keyboard that really pleases me except the one on my desktop. I just get used to the stylus instead, which you can learn pretty fast.
But I must say, it looks fancy. A real geek toy. It wouldn't surprise me OQO are heading the direction of mobile phones and portable gaming devices.
Still, what's the real use of this device? On the field data entry, be it a medical statistics or readings from a seismograph. Warehouse inventorising. A huge number of things, but for which most... a battery lifetime of 8 hours might be minimal.