Palm Foleo

I'm reading today that Palm is releasing a new device called the Palm Foleo. A Linux based, laptop-like device to link up, (using Bluetooth), with your Treo and make it easier to work with email and documents on the go. But at an estimated $500 price tag, why not get a regular laptop, pay a few more bucks to your wireless carrier each month to tether the laptop and Treo and then work from anywhere that way?
And by the looks of the video, Versamail is the only mail client that it will hook up with. Which make me wonder if you're using a third-party utility like Good, Intellisync or OneBridge, will you be out of luck?
For now, I'll stick with my BlackBerry ;)

(If you're using an RSS reader to read this, you may want to open the link to the site to see the embedded video)

Update - Even Gartner is scratching their heads on the logic of this device.