Next Thing Co. is now dissolved, read the story, but the CHIP might still be available from third party sellers.
SpecsUpdate
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Pros
Pro Great performance for price
With 1 GHz ARMv7 CPU, 512MB of RAM and 4GB of storage CHIP is capable of running LibreOffice suite of applications for office work, Audacity digital audio workstation for audio editing, CAD for drawing diagrams and playing a wide array of games.
Pro The basics (wifi, BLE, charging) are already integrated
No more having to separately buy and plug in wifi dongles, usb keyboards, etc.
Pro Open Source schematics
Pro Ready to be used out of the box
CHIP comes pre-installed with a variety of applications.
Pro Can be made portable
You can use a Lithium Polymer battery to power the device and it has charging circuitry for charging the battery.
Pro Teaches programming
VHIP bundles Scratch programming language that's designed specifically to teach the basics of programming.
Cons
Con Not available anymore
Con Young community
The first CHIP computers shipped December 23rd, and while there's lots of traction it will take some time for a bustling community to develop around the devices.