Just saw that VIA are releasing a new Raspberry Pi style PC with the following spec:
CPU: VIA WonderMedia 8750 800 MHz ARM11 processor
RAM: 512MB of DDR3 memory
STORAGE: 2GB of flash storage
INPUT/OUPUT: HDMI, VGA, USB 2.0 (x4), Audio out / Mic in, microSD Slot
NETWORK: 10/100 Ethernet
SOFTWARE: Android 2.3
The chip supports 1080p HD video playback, H.264 video encoding, and OpenGL ES 2.0 graphics (however seems like one chip for both GFXs and CPU).
And selling for a nice $49 (£30).
Looks really nice and as its more beefier than the PI it should run Java a lot better.
More info here.