Unfortunately, like the Optimus keyboard, it's still vaporware. The release date is going to be at the very earliest June 15th of this year(It's no coincidence that it's the last day of this years World wide Developers Conference), and more likely later. Prices are going to start at $500 with a 2 year contract, and go up from there.

Verizon right now offers a similar design, the XV6700, which runs Windows Mobile, and has a Webbrowser and Email client. About the biggest complaint against them, is the lack of full sized SD slot(it comes with a MicroSD slot instead). Also, unlike the Iphone, it is EV-DO ready. Instead, Apple decided to go with "Edge" which is significantly slower in terms of connection speed.(135Kbs vs. 900kbs).