No, it’s not a new Wonderswan, it’s the ODROID. This curious little gaming handheld has a 3.5-inch capacitive touchscreen, Android 1.5 OS, 512MB of RAM, and the same 833MHz Samsung CPU as the iPhone 3GS.

A developer version is now up for pre-order, and includes a charger cable, serial console debugging board, and batteries. It costs the equivalent of about $320, and should be delivered by November 5—ahead of standard $250 models arriving sometime in December.

The device has 802.11b/g Wi-Fi, Bluetooth, and a mini-HDMI port to connect it to your TV. There’s no 3G, though there’s a chance you could use a 3G dongle with the USB port.

It’s a cute little ugly duckling, but what 5-star, compelling video games does Android have outside of MAME? And while it’s easy to imagine that better video games will come as more Android phones hit the streets…why not just buy one of those instead? [aESOP (translated) and Hard Kernel via Slashgear]