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IMHO: RPi's have a steep start up cost of a low-end machine if you include case, power supply, and cables.

If buying all that doesn't scare you maybe look at a Hackenberry instead. It run MANY more OS'es and much more software and has more CPU under the hood. Or if you want something with a basic case, built in OS that can changed, some extra flash crive space and a power supply try the APC Paper. Finally there the Android Stick/Android Media Center. They're like the APC but with less IO and plug directly into an HDTV as the monitor. eBay always has tons for $50-100 with free US shipping.

Here you go. I ordered one through newegg today.

APC Like Jobs and Gates, we believe the PC is one of the most remarkable tools humans have ever created. Great tools improve with time. They don’t go away.

Many common computing tasks, such as number crunching, data storage, and communications have shifted to the Internet. As a result, a very low cost computer – with access to the Internet – can be just as valuable as a much more expensive computer.

APC was born from our love of computers and our realization that the PC needs a fundamental redesign. The redesign that we offer is a computer that is more accessible, and more valuable, because you’re not paying for functions that you don’t need and won’t be using.

Why focus on that board when Via has the APC 8750 which isn't that much more expensive then a RPI - http://apc.io/

VIA have already promoted the APC [ http://www.apc.io/ ] which was open for preorder and is now closed / sold-out. Although most of these devices, being simply bare boards, are completely unsuitable for domestic use and even more unsuitable for classroom use they might just make developers take the ARM / Linux platform seriously. I would hope that will be the takeaway from this whole initiative: that there's more to computing than PCs - oh, yeah, and apples too.

Well if you can't wait for the Pi you could always get a VIA APC http://apc.io/about/ .... Haha, trololo, nope that's made in micro-batches to.
Seriously though there are some cheap ARM based boards out there to play with.
I'm waiting on a Mele A1000 (it's been shipped) and I didn't need to add myself to a mailing list lottery (or is it FIFO?) for it.

No need to be rude -- I'm only asking what's the draw for Raspberry Pi. So it's the video? That's the point -- it's a cheap system with decent video capabilities? Help me out here. The APC is coming out next month and it has higher specs, but only 720p video and it's $49.

So what kind of project do you need a cheap system and 1080p video for? I'm really only asking because I'm curious. What sort of project is it?

Neither this not the RasPi have built in WiFi/BlueTooth.

Well, in that case, the TFA has it wrong as well. http://apc.io/product/