According to the folks at All About Phones who reportedly attended an Acer event recently, the F1 will be running the 800MHz ARM chip. This is a little slower than the Toshiba TG01 which has the equivalent processor running at a monstrous 1Ghz.

The device will be Windows Mobile 6.5-based which will be skinned in a Flash based Acer Suite 2.0 shell.

The report also mentions a September release and a possible 560 Euro ($760) price tag.

The Qualcomm Snapdragon processor hasn't actually been confirmed but it looks likely

acer-rumor-snapdragon-rm-eng

via Engadget