The Motorola phone originally hinted about as 'Calgary', then this weird name 'Sholes', then a potential 'Tao' has now seemingly been finalized as 'Droid'. The phone is fast - unlike earlier units (G1) it uses same ARM Cortex8 architecture as Palm Pre and iPhone 3GS. Capacitive 854x480 screen. 256MB RAM/512MB ROM, plus a microSDHC slot. Android 2.0 OS, full-size 3.5mm phone jack.
See http://www.youtube.com/watch?v=FoYr8-uG5C0
Go to droiddoes.com (See what URL does it redirect you to) Note the 'November' at the end of the ad. The countdown on the website has been decoded to run out on Oct 30, midnight - which confirms the previously leaked release date.
There has been much speculation on 'how Verizon will cripple this phone'. However, if you listened to the Oct 6 Verizon-Google press conference, it has been stated that this will be a truly open platform, a 'stock Android/Google experience'.
Incidentally, my 'New Every Two' has come up in September. 
I am still taking this with a grain of salt, at least until I can testdrive the phone myself.