As reported earlier HP bought Palm and apparently nobody saw this one coming. On top of that I think this is actually the best solution for Palm. In an interview with TechCrunch, HP Senior Vice President of Strategy and Corporate Development Brian Humphries said "WebOS is the best-in-class mobile operating system. Our intent is to double down on webOS".
I would not say its the best, but it is definitely good enough to compete with Apple iPhone OS, Android and the upcoming Microsoft Windows 7 Mobile.
HP was a smartphone player back when they bought Compaq and the iPaq was hip. Pairing cool hardware designs like found in the HP Slate paired with Palm's webOS is the entry back into the smartphone game.
The future of Palm webOS looks pretty good if they HP and the Palm team can execute now effectively.