By Mark Wilson, 3:45 PM on Mon Sep 15 2008, 10,845 views (Edit, to draft, Top, Slurp)

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Before you read any further, we'll tell you the catch. It's not actually a netbook. It's just powered with the specs of a netbook. This Avaratec All In One features an 18.4 swiveling screen, 1.6GHz Atom processor, 1GB of RAM, DVD burner and Windows XP. Sure, you can call it an underpowered iMac ripoff, but then you'd be missing that the whole system runs only $550 and can mount on your wall like an LCD TV. Full specs and video:

Thickness: 1.3-inch base, .59-inch LCD
Built-In Webcam & MIC
Piano Black Design
Weight approx 4 lbs.
Microsoft Windows XP ULCPC
Intel ATOM CPU: N270 (1.6GHz / 533MHz FSB / 512K)
18.4″ Widescreen LCD (1680 x 945)
1GB DDR2 System Memory
160GB SATA HDD
Super Multi Dual Layer DVD Burner
802.11 b/g wireless LAN integrated
Integrated webcam (1.3M) and 5 USB 2.0 ports
4-in-1 Memory Card Reader
15 pin D-Sub Video out port

This Averatec All In One should be available in the US by the holiday season in black only. [Gadgetress]