i-Mate Creating Palm Foleo-like UMPC With i-Mate Shell?

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According to Ubergizmo, i-Mate's working on a Palm Foleo-like UMPC/PDA device that has a 1024x768 display, a built-in keyboard, an 80 (!) hour battery, and a price point of only $300. However, this shell is just a "shell" (like its name), and uses one of i-Mate's Windows Mobile Ultimate smartphones as a base/processor. That makes sense with the VGA and XVGA display out on the phones, and is slightly more reasonable than what the Foleo was trying to do. [UberGizmo]