A very nice piece about Transmeta's strategy, centered around the notion of the 'Ultra Personal Computer'. I've liked Transmeta for a long time, and I this concept is an absolutely killer one.
"...Known as "Ultra Personal Computers" or "Mobile Computer Core", the wallet-sized CPU and memory device can pop in and out of a dummy terminal on a desktop and then be carried around and accessed like a PDA".
Modular computing like this is really the first stab at a new dominant design for PC's - it's architectural and recombinative innovation at once. It's also cool.