Update: Move-on! Its a WinCE device. Thanks JKK.
AkihabaraNews are showing images of LUI, a video entertainment system from NEC. The handheld component, that must be some form of media client, looks like one of the MID/ultra mobile PC prototypes that Intel have shown before.
It’s clear why you might use Atom/ISH for a portable video device but once again I ask myself, Why Vista? Especially in this scenario.
You’ll find a stack of pics over at Akihabaranews.