Sure. At least General Magic shipped several devices and helped influence what would later became both iOS and Android. The company employed a lot of people who would go on to have a huge impact on mobile computing. It was more than just vapor!

I have no inside knowledge, although I did work with Imran at Apple and he is a very talented and thoughtful designer.

At one point it looked like they were going to build some type of camera device running Android.

It is my dream that they are going to build a high-quality device with the same attention to detail Apple brings to both hardware and software, running on an open and secure operating system, with a marketplace that is both developer and user friendly, with no lock in and complete freedom over what is running on the device. Like I said, it is a dream.