Some fans of the Treo are currently speculating on this image, which purports to show the Treo 700. But the logo looks sort of fishy and the concept of a Palm phone running Windows Mobile is akin to the Mac Mini running Windows 98. In other words, highly unlikely.
700 with WM5- Fact or Fiction? [SmartPhoneDubai]
UPDATE - Al writes:
Hey Gizmodo, love the blog! I wanted to point out the TREO 700 image from this morning is deffinetely a Photoshop product. Dear author: next time you edit the antenna out from a TREO 650, you should also remove the shadow it casts!