It has UMTS/HSDPA 2100, GSM/EDGE 900/1800/1900, and PUSH email support via MS Exchange (kind of like the BlackBerry email system). It has a mobile web browser, an RSS client, and a weather forecasting app.
It also comes pre-loaded with Google Maps. It has a fairly amazing 8.5 hours of talk time and a 2.2-inch screen.
The RSS feed can be set to display on the home or idle screen and the camera can be set to automatically upload images to an online gallery or blog if you wish. Seems like a pretty amazing phone, and just like the other handsets that have been announced by SE, its coming out second half of this year for an as yet undisclosed price.