I thought palm was dead. I thought there was no way for them to come back (from the dead).
After watching this video I think they might have a chance. Keyboard, innovatove user interface and integration of information from different web sites inside your calendar and contact list are some of the cool features. Looks very cool.
That being said, it remains to be seen if their customers and mainly if their developer community will remain loyal in the face of yet-another palm os.