The news has been on the forum for awhile now, but now we have a full image of the board.

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Other side:

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And what is the most exciting is that everything is completely open source. Here is the quote from Gus Issa:

GHI has seen the great value in open source hardware and FEZ Hydra is finally here. An official announcement comes early next week but for now…
FEZ Hydra is 200/240Mhz open source hardware. We give you hardware/software design files, everything A to Z. The board is powerful enough to run even linux!
What is so special about this board is that its firmware is compiled with open-source GCC compiler. Community will be able to modify and contribute easily. The board is designed in EAGLE. One of GHI trade secrets is the way we layout 0.8mm BGAs and now it is all open.

And another interesting moment:

We hope this new FEZ will meet your expectations and we hope the price will draw a huge smile on your face.

Can’t wait!