Cowon introduces with the Cowon Q5 a HSDPA and Wi-Fi connected PMP.

The Cowon Q5 features a 5 inch screen and comes either with a 40GB or 60GB hard-drive. The PMP runs Microsoft Windows CE 5.0 Professional on an AMD Alchemy Au1200 processor.

Other features include DVR functionality, speakers, FM Radio, Bluetooth and optional GPS navigation. The Q5 measures 5.5 x 3.5 x 0.8 inches and weighs 13.4 ounces.
The Cowon Q5 will be available in the U.S. by the end of Q2 2007. Pricing for the Cowon Q5 is estimated at $499 (40GB) and $549 (60GB).

The Cowon Q5 is just one step to short for me. If they put HSDPA in a PMP then go all the way and offer a full UMPC. It already runs a Microsoft OS.
More details on Laptop Mag. Cowon still did not publish a product page for the Q5. Shop for Cowon Players.