"Satisfied" iPhone 3GS owners
Of 200 iPhone 3GS users polled in August, 2009, 99 percent termed themselves "satisfied," with 82 percent saying they were "very satisfied."
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I agree - it sounds like he's been walking down the same line of thought as whoever came up with the Nokia N770 / N800 ideas.
The problem is the 'as cell phones get smaller' idea -- there aren't to many if any truly small size phones that have 3G & Wifi you'd want use as the data connection for a bigger screen unit thingy. Add in that the 3G stuff requires a bigger battery, and you end up with a larger unit you might as well have a larger screen on anyway.
Maybe they'll have a M505 GSM Watchphone clone along with the keyboard-screen device. :)