David Braben (of Elite fame!) has created a pocket-sized PC the size of a USB stick that can do 1080p output, has OpenGL ES 2.0 support in its GPU and runs Ubuntu as OS of choice. Dubbed the Raspberry Pi, It's an ARM-based machine with 128MB RAM, has a single HDMI port out on one end and a single USB 2.0 port in on the other end to connect peripherals like keyboard and mouse. It's priced to sell for USD$25 each (!) and they are aiming for general distribution in about a year's time (unit shown in the video is only a prototype). News article here.