This is the successor to the Smallart U-Host U1A and U2.

Haha he looks like a hockey puck!!

He will have either the Allwinner A31 Cortex A7 quad-core processor or the Rockchip RK3188 Cortex A9  quad-core processor.
I hope they go with the Allwinner even though it's not as fast. Allwinner is more GPL-compliant and the device would have a higher chance of running Linux.

http://blog.geekbuying.com/index.php/2013/04/22/uhost3-u3-quad-core-tv-box-news/

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SKRAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAG YEAH 

Another cool little ARM Linux board has just hit the scene, the BEAGLEBONE BLACK.
Don't walk away just yet whitey, because despite its name, this board isn't just for black people!

The device runs Android or Linux and features a fast 1 GHz Cortex A8 processor and way more I/O pins than the R-Pi.
However, it does not have any hardware video decoders or support 1080p video output, so the Pi is still the way to go for playing media.

A good comparison of the 2 boards here
http://www.cnx-software.com/2013/04/25/beaglebone-black-vs-raspberry-pi-features-and-price-comparison/

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i've merged these topics because there weren't many replies