As for hardware, the GSM version is a slab-style phone with that lovable Android chin, trackball for navigation, and the regular set of keys required by Android. It has a 3.2-inch HVGA display that is touch sensitive, and other features such as GPS, digital compass, accelerometer, 3.5mm stereo headset jack, a 5-megapixel autofocus camera and expandable microSD memory.
The original version of the Hero -- announced back in June -- was for GSM networks only (AT&T and T-Mobile). T-Mobile later squashed any hopes that it would sell the device.
The CDMA variant of the Hero approved today won't necessarily have all these features, but there is a strong probability that it will. If you're hoping that this device will be available from Verizon, don't hold your breath. It is most likely headed to Sprint first.
In any event, it is good to know that an Android-based device will be available from a carrier other than T-Mobile, which, as of today, is still the only network operator selling Android devices in the U.S.