Forget the Psystar business—this Hackintosh is much more interesting. A member of the OQOTalk forum has demonstrated his OQO running a hacked version of Leopard. It takes over two minutes to load but it looks like it's all there, including such goodies as Bluetooth, Wi-Fi, USB, power management and sound. Check out the video to see a (blurry) demo of it in action from the dual-boot startup, including showing coverflow working in Finder and a Dashboard launch.
Currently the video resolution is pinned at 800 x 480 and there're difficulties with wwan, but work is continuing to overcome this.
Is this the smallest Mac in the world? Very probably, and pretty amusing given that OQO was founded by some ex-Apple employees. [OQOTalk]