This is the Sony Bloggie MHS-PM5 camcorder. It has just been released by Sony in direct competition to the Flip UltraHD. The Flip has a couple of features I like over the Bloggie: Flip UltraHD uses AA batteries, and it has a brighter F2.4 lens, while the Bloggie uses proprietary battery and the lens is F3.6.
Apart from those two shortfalls, the Bloggie beats UltraHD hands down, based on design and specs. The Bloggie lets you take 5MP still pictures; it has image stabilization, it is thinner, it has a larger LCD (2.4" vs 2.0"), and it has a bigger digital zoom (4x vs 2x).
Most significantly, it has a very useful 270degrees swivel lens. One of the most useful things you can do with this is to lay the Bloggie flat on a surface when you don't have a tripod. You can then tilt the lens to the required direction, and start recording to your heart's content. I wish Sony had thought of providing a foldaway support, so that you don't have to carry a tripod with you. With that, you can stand the Bloggie upright and it will be less likely to pick up any vibration noise from a table.