Sure, it's not quite as ... large as BenHeck's portable Jaguar or as expandable as his VCSp Rev. 7, but what the AFP is lacking in street cred it makes up for in sheer functionality. Like the Atari Flashback units that came before it, this petite package (which isn't much larger than a 2600 cartridge) will undoubtedly house dozens of classic Atari games, with nary a cartridge in sight. And for those two-player games? The handheld has two controller ports so you can plug in some joysticks for that authentic Atari experience.
Update: more details gleaned from the AtariAge forums: the unit will run off 3 AAA batteries with a 15-hour runtime; the USB port will be a mini-port on the final release and games will be loaded via USB (from where? Will it play ROMs? Will we need to buy games individually?); screen resolution is 320X240 and the NTSC units will support AV out. Lastly, for those upset by the look of the unit, peep an even earlier spyshot of the Atari Flashback Portable after the break and bask in the glow of faux woodgrain.