Xperia from Sony Ericsson (xperia home page)
Running Windows Mobile on a 3 inch 800x480 touchscreen in a side-slider form factor. At the moment, I miss info about RAM and processor running the show, battery capacity is unknown. My first uninformed take on this phone will be somewhat similar to iPhone - eyecandy is good, but I have doubts that SE will be able to put together a solid phone on WM platform from the very beginning. I also think that they did not change WM interface that much. Looks that they just added a nicely animated task manager, imitating HTC TouchFlo. In my experience, this is not enough to make phone useful for one handed navigation.
According to specsheet it has optical joystick. Hmmm? And 4-way button. I kind of do not get how this central area combines both, but hopefully it will be revealed tomorrow. Finally, those side buttons, (Call, Windows key, OK, Disconnect) look strangely like touch sensitive kind. In my opinion, this is also a potential weak spot. Let's wait for reviews though, from people on the show floor. Lucky ones!