Update from Engadget:

Update: This is crazy, but we've now gotten multiple tips claiming that the Zeen is actually an Android-based tablet with e-reader functionality that can also dock with an HP printer and become its interface. E-reading, Zeen, magazine — get it? Based on HP's repeated previous statements about webOS hitting printers and tablets, we'd assume the Zeen has since been shifted over to Palm's OS, but we can't be sure, as that would undoubtedly add development time and we're told this thing has been kicking around for months.

Whatever this is, it appears HP still has some work to do: one of our sources described the Android-based prototype as feeling like a “brick” and being “extremely unpolished” with poor battery life. It's also been pointed out in comments that the CQ in the product number typically indicates a Compaq device, so that could eventually be the branding. We'll see what's real soon enough, we suppose.

There are no words on the processors actually. It would be a smartbook?