12:34PM EST - Ed Colligan is about to take the stage, and we get a video! Very emotional video being played -- quite a few people in tears. Just kidding.
12:36PM EST - Ed Colligan is talking about the video. Blogging and emailing from a Treo he says. Colligan just said he didn't know what Twittering was until today.
Ed is talking about the market, says a billion phones will be sold this year. Says the market will grow 56 percent over the next few years.
12:39PM EST - Now he's talking about the size of smartphones and how they're too big and too complex.
12:40PM EST - Here it goes -- the Centro!
12:42PM EST - Okay, he's talking features now. Great phone first, he's boasting about its address book features... we're not impressed with the address book Ed. Now he's talking about messaging, saying it's how a lot of people communicate now -- discussing threaded messaging. All old tech so far. Talking about AIM and Windows Live.
Push email built in -- pretty standard Palm fare -- go figure.
12:46PM EST - Ouch, just burned the iPhone by saying "this is not some EDGE phone" while talking about broadband speeds... uh, what about all your GSM Palm phones, Ed?
12:48PMEST - Sprint's point man on stage now -- talking about how amazing Sprint is -- go figure. Now talking about Sprint TV which has been "optimized" for the Centro. It'll cost you.
12:53PM EST - The phone will be $99.99 -- only for Sprint. He just used the phrase "special sauce."
12:55PM EST - Ed is back! That's all for the show -- no surprises -- at all. Question and answer time...
Stay tuned for a hands-on and possibly some painful, hardball questions for the Palm folks, plus a slew of photos to feast your eyes on.