Palm's CES press conference is mere days away. Before Palm CEO Ed Holligan has a chance to tell us what the company is up to, the Internet has coughed up some details and a rough sketch of the new smartphone from Palm.Thursday is Palm's do-or-die moment. Its press conference, at 11 a.m. PST / 2 p.m. EST, is rumored to be the event where Palm will introduce not only its new mobile platform, but also some new hardware based on that platform.

The fellows over at CrunchGear say a solid source has given them the scoop on the goods. Site editor John Biggs writes, "We have information from a trusted source that the latest Palm smartphone running the Nova operating system will be launched Thursday. The new phone will have a full QWERTY keyboard that will slide down under a portrait-oriented touchscreen... The new operating system is described as 'amazing' and there will be a full software bazaar on launch. It will have media playback functions along with standard Palm calendar, email, and contact functionality. As expected, the phone is described as 'iPhone-like' and will probably be sourced by HTC like the Palm Pro."

Palm's Nova operating system needs to be amazing. Anything less than that will be met with disappointment. Palm has been working on the OS for years, and has delayed it multiple times. Competitors Apple, Nokia, RIM, and others have stepped up their game and offered better smartphone software and hardware, relegating Palm to has-been status.

Whether or not the source cited by CrunchGear is in the know, who is to say. You can see a mock-up of the device here. Quite honestly, I hope Palm shows off more than one phone on Thursday. In fact, I hope Palm blows everyone away.

We'll find out shortly.