Yes it has reduced specs and no 3G, but I'm going to be spending the next 5 years on a campus with wifi all around me...won't need to worry about 2.5G speeds. Yeah it has no camera but I can't remember the last time I thought "oh yeah I'll use my cellphone for this" it always ends up "oh I'll use the DSLR on my shoulder".
BUT
The biggest thing for me is having a handy dandy easy to dev for platform I can carry with me. It's got GPS/Wifi/BT/GSM with a 640x480 touchscreen and linux (oh and USB host). I think of it more as a tiny computer than a cellphone (I know, it's not one) which makes it feel more worth while.
All in all it feels more or less like the
GP2X but aiming at the cell market. It probably won't ever be popular to the masses but those who already like the idea, they'll adore it.
As for the site being borked: Yeah I have no idea. I'm in a group buy and a 10 pack was bought a day or two before I posted this. It worked before...so who knows.