Physical specs look about right; about two-three years behind the current tech curve.
(that is GOOD for the part subsidy business that drives the entire console platform)
RAM looks a tad high, the upper-end is on par with modern decent gaming PCs. Then again, RAM at that grade isn't exactly that expensive any more. I was looking at least 2GB, maybe 4GB.
Undersold it a bit.
(not the best, obviously; but you don't need the best computer for current PC gaming thanks to the huge number of current console ports dragging PC down to their tech level)
Oh, and, I really hope this doesn't take off like the 360 did. But knowing the market, they will just lap it up. I don't want it to FAIL, mind you, but gaming has largely gone south for me since the 360 launched and it all has to do with market demographics.
Namely, I don't want to have to deal with another 6 years of shitty PC gaming. Though that may happen regardless depending on how gung-ho the publishers are about forcing increasingly bad DRM down our throats.