It supposed to run Linux but without a datasheet for the CPU and its peripheral how does it do that? And what sort of support will Broadcom offer?
The FAQ says "In general, you need to look to see whether the program you want can be compiled for the ARMv6 architecture.", ARM V6 (aka ARM 11) rather than Cortex architecture seems a bit behind kinda.
And the discussions in the forums about details of the chip being redacted in comments here: http://www.raspberrypi.org/forum?mingleforumaction=viewtopic...
Then we compare the T.I. OMAP 4430 chip (used in the Chumby, Pandaboard, etc) which is the only other ARM chip that can do HD Video and it costs $15/chip in quantity.
As someone who has built this sort of thing in the past I am really wondering if they are going to pull it off or flame out. Clearly I hope they pull it off but am really wondering how.