The LX195 is widely reported as using a 1.6 GHz Intel Atom 230 CPU, with 1 GB of RAM, but only a 640 GB drive. Storage can be expanded via four USB 2.0 ports. Network connection is via a single Gigabit Ethernet port.
The NAS will support the same feature set as the multi-drive EX485 / EX487 MediaSmart Servers, which includes automatic backup for Mac OS and Windows clients, iTunes and UPnP / DLNA media serving, photo publishing and Apple Time Machine support.
Pricing and availability have not been officially set. But multiple reports say next month and $400.