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CPU seems to be MSM8255T (they didn't mention the T) http://en.wikipedia.org/wiki/Snapdragon_(system_on_chip) 1.4GHz is fast, but the OS might be slow, and certainly they have less experience in integrating it with the hardware, to make it fast.

BTW the images look like CGI mockups to me. EDIT I was wrong

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The OS is very fast. I have a Samsung Focus with a 1ghz processor and it runs much better than any android 2.x phone I've seen. I think Ice Cream Sandwich will finally add hardware acceleration (which Windows Phone 7 has had since launch) so maybe it will perform better.

Hands on video: http://www.engadget.com/2011/10/26/nokia-lumia-800-hands-on/

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