We have had more news from the manufacturer and I will have a release spec version in my hands withing about a week - after this we can really update you with specs etc.
Obviously the product will have a full write-up and specs sheet on the site, Chinavasion.com, as well.
Until then I've got a few more specs that the manufacturer faxed over:
TV Output: AV output
Support Games: GBA, GB / GBC, FC, SFC, MD, NEO, CPS1, CPS2, MANE devices such as 8-32 bit analog-like game, or upgrade to 32 or more simulator.
Support for two or more people online to battle
Wireless controller features: Support
Text features: support for TXT, PDF, HTML, CHM format
support for e-book reading function of TTS voices;
support FONTS vector fonts, support for changing the background color to support bookmarking, support for smart chapter break; support listening the music and reading e-book at the same time.
Photo: Support JPG, GIF, BMP, PNG and other image browsing
We are also looking into the 'black and/or white' situation.
Our thanks to everyone for being patient and your helpful and informative posts.
Quartercast is right, we should be able to release it around this kind of time, but we need to do our own QC testing, write-up and pictures first.
We will keep you updated at every step of the way.