AUSTIN, Texas – Dell on Wednesday unveiled a so-called 20-pound luggable computer that’s either a blast from the past or a leap into the future.

The 20-pound XPS M2010, which starts at $3,500, incorporates a large-screen monitor with a small, flat PC, CNET News.Com reported. The computer, part of Dell’s XPS luxury line, includes two hard drives with up to 120GB capacity each, a Core Duo processor and 4GB of dual-channel (667MHz) memory. The size rivals early PC, like those made by Osborne.

Attached to the flat horizontal PC, which remains on the desk, is a 20.1-inch wide-screen monitor. It folds down to meet the computer and keyboard as on a laptop. The monitor’s support bar, when open, becomes a briefcase handle when the device is closed.

The computer’s detachable keyboard, which snaps in to the front of the flat PC, has Bluetooth technology.

Dell unveiled a concept computer similar to the M2010 at CES this past January. However, Dell has been exploring the desknote idea since at least 2003. Its Inspiron 5100 incorporated a large screen with desktop computing strength and laptop form.

In addition to executing expected computer functions, the XPS M2010 is designed to be a multimedia device. It sports a combo DVD+RW drive, a built-in video camera and digital microphone, and a 256MB video card for DVDs, 2D gaming and most high-end 3D gaming. There are also eight built-in speakers, as well as a subwoofer, and 7.1 and 5.1 audio-out ports for hookup to a home entertainment system.

A Dell Premium Remote Control allows consumers to control the Windows XP Media Center Edition software, which comes with the M2010, from up to 30 feet away.

The M2010 also includes four USB 2.0 ports, a 802.11a/b/g Wi-Fi option and 13-in-2 memory card reader, as well as the usual XPS headphone, microphone and line-in ports.

The company is planning to formally announce release of the MP2010, along with other new XPS systems, this afternoon. However, images and specs of the MP2010 have been leaked early by Dell on its Web site.