Apparently Apple is working on something small and delightful, but like Apple Recon claimed - it won't come out until June. Dohh!
Apple Insider also says it's gonna be really small and use NAND flash and NO internal optical drive (ala the PowerBook 2400 and 100). They also echo what I have been saying here - that this is just what Japan needs, and may pick up sagging sales here.
My take: Much too late! There's no need to put new tech into a subnotebook, when there are plenty of Windoze laptops at ideal size/weight ranges already. One wonders if Apple can recover the sales it's lost in Japan. (And when my 12" G4 dies, which could be anyday, I'll freaking go Windoze if there's nothing.) Also - though I look forward to Apple innovating in a subnote book, it's totally unecessary at this time. Plenty of Windoze Core 2 Duo notebooks that are 1.5 kg and under on the market now with existing tech.
I guess I won't hold my breath for this thing....