I've updated the device with the firmware from JXD the update adds the Android Market and a SNES/SFC emulator (I really recommend this).
I changed the N64 emulator because the stock one is really bad(I will come back to that later).
The startup time is about 1 minute.
Battery life is max 3 hrs.
most games and emulators will run smooth due the ARM Mali 400 GPU (not GTA)
The processor is clocked at 800Mhz and the device has 512 MB RAM
The 7 inch screen has a terrible low resolution: 480x800 pixels. but the 5-point touchscreen is quite responsive. Don't expect an iPad, but for the money it's good. The viewingangels are sadly not so good. The build quality is what you would expect from a device at this price range, It feels and looks solid and well built. But if you press some places the system squeaker a bit and when you press at the back of the device you can see on the screen where your fingers are.
The hardware buttons work well, but you can’t give the joystick and d-pad separate functions.
The camera's aren't really good, They both needs a lot of light but are good enough for video chat like Skype or Fring.
I highly recommend to install the new firmware from JXD (www.jxd.hk) this adds the Android Market and a SNES/SFC emulator. you have to look for the capacitive firmware version , If you install the resistive version the multitouch doesn't work and the system may crash. The stock laucher (home screen) is far from user friendly. you can't change the layout and if you install an other Launcher (like GO Launcher EX) you can't access the emulators. The device has the software "JXD Cloud Service" what this mean is that you can view the manual and download some apps and emu games.
Some emulators work really well. The PSone (needs BIOS to function better), Arcade (MAME), NES/FC and SNES/SFC all function well. The GBA emulator works fine but sometimes crash. The only thing is that the button layout isn't always right, but you can change that during the game by pressing menu->settings->layout->hardware buttons. The N64 is by far the worst emulator. But with some Android Knowledge you can fix that as followed:
(warning: you have to execute a temporarily root)
at your own risk
1 download and install VISIONary+ then launch it.
2 execute a TEMPROOT (this takes some time).
3 download and install SystemApp Remover and launch it.
4 backup and then delete N64droid (DON'T DELETE ANYTHING ELSE, OR YOUR SYSTEM MAY CRASH)
5 download and install N64oid v2.7
6 done! (you can even play Paper Mario/Mario RPG 2 now)
ARM Mali 400 GPU
touchscreen is responsive
squeaks when pressed on some places
USB mode doesn't work
wakes from sleep mode
No shoulder buttons
The device has a huge game library, not all games will work but most do. I think it's a good replacement for a DS or PSP (if you don't mind the size). There are some downsides but for the price, it's quite good.