Us folks at Guru Labs have long been Treo users and most everyone at the office has one.
There are extremely powerful communication tool and whenever we doing a Linux training gig on the road the Treo makes it easy to stay in touch (and even drop in on #utah).
The Treo700p will be official announced on Monday May 15th 2006. However, in some places of the world that time has already arrived and the press embargo has been lifted.
For official/non-rumor Treo700p details check out the first article to be published at Treo Central, titled "Palm Reveals Treo 700p Smartphone".
The 2nd article now online is from Palm themselves, see the "Treo 700p Smartphone". There is a PDF as well as a flash demo.