It has a 4.1″ screen, OMAP 3630, 8 GB Internal, 8 GB MMC, 8MP camera and HDMI out.
There has been speculation this device is actually the Droid 2. I have it on good authority it isn’t. The Shadow doesn’t have a physical keyboard and may end up running Motoblur, while the Droid 2 will run stock Android. The Droid 2 will ship a little later than this device, and is basically just a refreshed Droid — smoother edges with better physical keyboard.