So, after a busy day I've managed to sit down and read through all the guff about this.
It looks to be a great phone. While I'm sure the 5MP camera will be good, not having 8MP is a bizarre omission though I suppose this isn't a phone that is designed to sell in massive numbers (for most people, MP = better), the camera quality isn't massively important on a developer phone.
ICS looks very good and I look forward to trying it.
The screen is the key point of any smartphone really when it comes to the hardware, and this one sounds absolutely brilliant, but I'll believe that when I see it because people were saying the Galaxy S II screen is 'super crisp' for small text and it really isn't.
I'd definitely get one over the Galaxy S II and I wouldn't be too concerned about the internals. Obviously the internals can easily run ICS and there aren't really any demanding games on Android yet, and even then it would handle most of the iOS ones absolutely fine (except the latest ones optimised for the 4S).
I'm a bit worried about what effect the high-res (and screen size itself) will have on the battery, it could be a bit poor.
So, it's nothing massively special, especially given the SGS II will likely have a stable ICS ROM before this phone is even released, but if you prefer 'pure' Android as many people do, then it's a good shout.
I'm also slightly disappointed (though not surprised) by the large amounts of bitching this early in the thread. Wait until people have tested it properly for goodness sake. There are people far too keen to try and condemn it and people who won't see a bad word said against it.