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Some people are saying that this looks Photoshopped, but I just don't see it this time. Is it because the screen doesn't reach to the edges of the casing? I have never used a Treo, so I can't say if the screen is supposed to reach or not. Also, this looks to be Pocket PC and not smartphone, as reported in the thread I linked to.
I agree, a square screen must be a real pain in the as.
Regardless of everything else, I think it was pretty smart to keep this under wraps for so long instead of creating false hope and wait time for everyone.
Engadget has posted links to three videos of this thing in action, so yeah, it's real: