If you've thought about diving into Linux and physical computing, this beauty would be the perfect gateway. Really, for me it's become greatly addictive. Also, it would be an awesome gift to get someone started.
The minimum requirements for it is a 4GB or greater SD card and a 5v power supply. A monitor or a TV with HDMI isn't necessary; you could run it headless. You can also get some really cool accessories like cases (like the Pibow below), WiFi cards, USB hubs, or some breakouts for the GPIO. Newark and Adafruit offer various accessories to help you along.
You can check out the specs from the Raspberry Pi foundation's website or take a look at what I've done with their previous version.
For now, enjoy some eye candy!
|Raspberry Pi 512MB.|
|The Pibow Raspberry Pi case fits snugly!|