I see it being competitive for someone who wants MS software vs. Palm, but I don't see any huge breakthroughs.

It's 20% bigger

2 SD slots - I don't come close to filling my 1GB card so I don't know what I'd do with 2

1.3MP camera - seriously, do you take a lot of pictures with your camera? I've used mine maybe 5 times - you can get 4MP cameras the size of this device.

Bluetooth, USB docking station, etc - nothing new here

Integrated GPS - that could be cool, depending on what it does. It it a full-function GPS solution, with mapping, etc. a la Garmin? Or the "cell phone GPS" that doesn't really do much?

I see it as a Windows-platform equal of the 650. With a reported release date of "sometime in the second half of the year" it's about the leapfrogging that I would expect 7+ months after the 650 release.

Given the lack of significant 600 to 650 improvments, I would hope the next Treo is well under way and will jump back over the HP in terms of capabilities (WiFi, GPS, etc.) in maybe late '05 or early '06. Unless the falling trajectory of 300-600-650 development continues, which would be bad news for them.