Now that things are back up, I do recommend checking it out, especially if you're a cool-toys geek and double-especially if you might have something to contribute. The idea is pretty simple: they're planning on taking a fairly standard Linux stack, and focusing on building the web tablet so many of us want. Thin as a MacBook Air, teeny solid-state hard drive, thoroughly underpowered for anything *but* the Web (but not intended to be used for anything other than the web), easy to use and *cheap*. Open source from top to bottom, so that anybody who wants to produce a knockoff can do so.
It's damned interesting, and I suspect they could pull it off: pretty much all the necessary software pieces exist, so they just need to be put together into a commodity package. If they can manage it for the sub-$300 price they're targeting (and I don't see much reason why they couldn't), I'd buy one in a heartbeat: it fills the niche between full-powered laptop and smartphone quite nicely. Exactly how much I'd use it would depend on how good a touchpad keyboard they have, but even with a fairly crappy one I can think of a bunch of ways I'd use it...