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Just received an email from Infinium Labs the maker of the hyped Phantom Game Console.
Infinium Labs announced that the company has stopped accepting applications for the public beta test of its Phantom™ game console and service. The company will review applications during the next 30 days and it expects to notify selected beta testers by November 15, 2003.
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Approximately 300 experienced gamers will be selected to test the Phantom next generation game console that supports games on demand, game rentals, game demos, seamless upgrades and patch management. The beta launch is expected to begin in first quarter of 2004 with the fastest console on the market that includes a broad selection of pre-loaded games, games on-demand and game rentals.
Infinium Labs received more than 40,000 applications to become beta testers of the Phantom Game System and Phantom game service. The company will notify selected beta testers via email by November 15, 2003.
Details on the Phantom Game Console.

Update:
Hardocp.com has an interesting background article on Infinium Labs that digs up some dirt on them.

More stories about the Phantom:
Phantom Game Console Beta Test Update
Infinium Labs Announces Plans For New Game Console faster than X-Box and PS2