This looks like an over-sized iPhone, and is a cross between a tablet and an iPhone. It has a SIM slot, but it has an Intel Moorestown low power Atom CPU and a 4.8 inch screen. So it can run variants of windows and Linux.
I think that Intel needs at least one more generation of even lower power CPUs to get into direct competition with ARM, but this is the closest I've seen so far.
Here is the LG GW990 hands-on from Engadget Mobile at CES