I've been watching this project for a looong time. Yes, this is the first batch, limited to 1 device per person.
The $25 model is scaled down -- only half the RAM (128MB), one USB Port, and no Ethernet port. The $35 model comes with Ethernet, twice the RAM, and two USB ports. These devices are ARM based, which will be useful for those hoping to beef up your cross-compiling or embedded-systems skills.
FYI, there is no I2S support in this first batch (design flaw, apparently) unless you're a ninja with a soldering iron. That pretty much means digital audio output is going to be a little more effort. (USB Audio, or HDMI Output)
Otherwise, these should be great for streaming video in a fanless, solid-state HTPC setup.
-Lalee