The saga of the OLPC XO laptop has been long and riddled with disappointment. The machine was first envisioned to be a sub-$100 notebook that could be used in education around the world. The machine ultimately came in at a much higher price than originally envisioned.
The XO 1.5 has turned up over at the FCC in lovely line art form. The machine has already been spied in the wild a few times and the FCC clearance means we should see it here in America soon.
The specs that have been rumored so far include a VIA C7-M processor and VX855 chipset capable of 3D graphics and HD video. The price of the machine is unknown as is a launch date; I bet it costs more than a $100.