Wow, Samsung just officially announced this today!
Samsung I7500 with OLED touchscreen powered by Android, dreams
HSDPA 7.2Mbps / HSUPA 5.76Mbps (900 / 1700/ 2100MHz)
EDGE / GPRS (850/ 900/1800/1900)
528MHz Qualcomm chipset
3.2" HVGA(320x480)
AMOLED
5 MP Camera (Auto Focus), Power LED
Bluetooth® 2.0, USB 2.0, WiFi, MicroUSB,
3.5mm ear jack
Internal memory: 8GB
External memory: Micro SD (Up to 32GB)
1500 mAh Battery
Looks like Samsung actually has some sense- internal memory in the GBs, a 3.5mm jack, and a 1500mAh battery all in a thinner design too! And a oled screen as well.
Now things are getting interesting with Android, HTC is in trouble- I'd get this over a Magic because it addresses the problems with Android handsets.
It's interesting how euro-centric Android phones are- both are being released in Europe with no mention of a US release. By June, Europe will have 3 Android handsets while the US only has the G1 (as of this time).