The R50 is the really small black one and is almost pocketable in size. The R70 is the larger one with the orange/red surrounding bezel.
The R70 has 3.5G, a fingerprint reader and a webcam as well as a track ball and left and right mouse click buttons. There are a few other shortcut buttons but it looks as though the keyboard must be on the screen like ASUS’ previous UMPCs. It does have a 1.6GHz processor, Vista, GPS, and I heard somewhere that it might get a 120GB HDD, which would suck for battery life, but would be great for in-car use.
The R50 appears to have similar navigational controls and a fingerprint reader. It has an Intel Silverthorne (Atom?) processor running at 1330MHz, a gig of RAM, a 32GB SSD drive, Bluetooth 2.0, wifi b and g, HSDPA, GPS, and front and rear cameras. It runs Windows Vista using the Intel Poulsbo graphics.