I can't decide if the Yinlips G65 (Akihabara news) is a smartphone without the phone, or a handheld gaming device with a camera. Most PMPs are built to play music, display video, and maybe handle a few simple games. Yinlips, however, took a "throw in the kitchen sink" approach to building their latest gadget.
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The G65 packs a 3.5" QVGA screen, a microSD reader, video out, an FM Radio, E-Reader functionality, a 5 MP camera (for shooting and recording), and support for 8, 16, and 32 bit games. It can also handle a wide variety of video formats; MP4, RM, RMVB, and FLV up to 40 fps or 720p. For music, it can handle MP3, WMA, APE, and FLAC loss-less. Impressed yet?
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You can read, listen to the radio, watch HD movies, rock out, take photos and videos, or play a huge variety of games with the G65. Assuming the UI isn't terrible and the hardware all works, I think Yinlips might have the best boredom-killing device ever on their hands.