The handset is reportedly being code-named "Sholes," and it packs a nice-sized capacitive touch-screen with a slide-out QWERTY keyboard. Reported specs according to Motofan.ru:
-- Dimensions 60.00 x 115.80 x 13.70 mm
-- Weight 169 grams
-- Battery Li-ion 1400mAh.
-- Standby 450 hours, talk time 420 minutes
-- 3.7-inch touch-screen with a resolution 480 by 854 pixels, displays 16 million colors.
-- 16 GB Memory (FLASH / RAM): 512MB/256MB memory card microSD / microSDHC up to 16 GB
-- SMS, MMS, E-Mail Messaging
-- Complete embedded HTML browser
-- 5-megapixel camera with auto-focus features
-- Connectivity: USB2.0, 3.5mm audio jack, Bluetooth 2.0 + EDR 1, Wi-Fi (IEEE 802.11g)
-- Supported audio formats: AMR-NB/WB, MP3, PCM / WAV, AAC, AAC +, eAAC +, WMA
-- Supported video formats: MPEG-4, H263, H264, WMV GPS navigation
-- Package Contents: Phone Motorola Sholes, battery, charger, USB cable, memory card 8GB MicroSD and other literature.
Keep in mind these are renders and rumored specs, but I am very excited about this device. A few things that do concern me is that there's no details on the processor speed, and Android does need some horsepower to run really well. Additionally, there doesn't appear to be any Exchange support yet, but it's possible that Verizon could add it before it hits.
Reports suggest this Android device will be hitting Verizon near October, which is very good for me because I become a cell phone free agent around that time. With this, the next BlackBerry Storm, and the Pre in early 2010, Verizon is finally getting their hands on some good, attractive phones. It's about time.
(Thanks to Boy Genius Report for the tip off)