The upcoming Archos 32, called the ipod touch alternative with Android, is already going through FCC's reviewing process, and will be coming to market soon.
The small device comes with Android 2.1, a 3.2" touchscreen display, 8GB of internal flash storage, an ARM Cortex A8 processor, GPS, WiFi, Bluetooth and composite video out. It can also be upgraded to a digital TV receiver and had DVR features.
The device seems to have a custom Android interface, probably designed with a media-oriented goal in mind. Android's stock interface isn't yet suited for devices that have a different purpose, other than being A smartphone. This is why manufacturers still prefer to create their own skins on top of Android, even though this means much slower updates to newer versions.
The Archos 32 device wants to be an ipod touch competitor, but with its 8 GB internal it might be a little hard. Hopefully, being in the $150 prince range will help a bit.