A great phone for the price. Some of the main features -
3G 900/2100 - 2.8" 320 x 240 capacitive screen - 528 MHz processor - 256MB Ram - 3.2MP camera
This phone can be unlocked after 6 months. Just make sure you activate the Optus Sim card that comes with the phone and choose the "long life" option.
The phone can be used with LiveConnected.
I price matched it today at Target for $71.10
Also you can install CyanogenMod 7 for this phone - http://www.geekzone.co.nz/forums.asp?forumid=97&topicid=9002…
Good luck!
Just a warning sometimes the size of the screen can be frustrating (keyboard covering buttons you want to press etc). Still a good phone for this price.