Zune HD?

The boys over at Engadget link to a gallery of photos that they speculate is the Zune HD.

What do you think?  Look real enough to you?

Personally, we don't get why a HD PMP would make much sense at all.  HD only matters when you have a screen that shows of that HD goodness.  You just can't do that with just a few inches of screenspace - can you?

Or are we missing something here.

Fun fact - we just grabbed the domain name ZuneHD.com.  What should we do with it?