Game developer David Braben has developed a USB stick PC that has an HDMI port on one end and a USB port on the other. It plugs into an HDMI socket and then connect a keyboard via the USB port, giving a fully functioning machine with a 700MHz ARM11 processor coupled with 128MB of RAM and runs OpenGL ES 2.0, running a version of Linux, possibly Ubuntu, costing about $25.
Provisional specification:
700MHz ARM11
128MB of SDRAM
OpenGL ES 2.0
1080p30 H.264 high-profile decode
Composite and HDMI video output
USB 2.0
SD/MMC/SDIO memory card slot
General-purpose I/O
Open software (Ubuntu, Iceweasel, KOffice, Python)
More info on Raspberry Pi: http://www.raspberrypi.org/
