Rumor: 'Gandolf' is new Treo

It's pure speculation at this point, but there are rumors on the Internet that Palm is working on a new 500-series Treo codenamed "Gandolf." The specs--again, just rumor--is that the phone will have a 2.4" screen, a 2-megapixel camera, and 3G/HSDPA. All it a relatively low price-point. Or are the "leaked photos" the HTC Hollywood?