Brighthand has some more speculation that seems to point to a new Dell Pocket PC with a VGA screen coming soon:
When Intel was first demonstrating the 2700G multimedia accelerator for the XScale line, a company spokesperson announced that Dell would be using this graphics co-processor in an Axim model to be released during the second half of this year.
The 2700G was created for 640-by-480-pixel displays and up. If it is going to be in a future Axim model, then that model will have a VGA screen.
The graphic subprocessor would give the X50 added kick for video and gaming applications.
Now we just have to wait for the first leaked photos, and official acknowledgement from Dell. My bet is on the FCC being the first source for photos – if the X50 is going to have any sort of wireless capabilities (and it would be silly not to), it will have to be approved by the FCC.