Well this is fantastic news.
Personally I hope they can keep the cost as near to $300 as possible, however, if $500 means 800mhz then I'd be happy to pay that.
For those worrying that this will cannabilise X1000 sales, I wouldn't be too worried. If anything I think it gives more confidence to X1000 buyers, as this can only lead to an expansion in the userbase for OS4, which is good for all users.
I've been saying for a long time that I want to get an OS4 capable machine, but my personal circumstances (no permanent home of my own) make this tricky. However, a portable netbook means I can jump on board as soon as this is released and get my X1000 a bit later.
In fact I'll probably pick up a couple of these netbooks and give one to my brother. He hasn't touched Amiga in years, and so would also be a returner.
Well done to all involved and best of luck and success.