The handheld has been confirmed by SNK! The handheld will be called "Neo Geo X" and sold in Q2 2012! It appears to be a similar concept to the Atari Flashback series.
http://www.mcvuk.com/news/read/new-neog ... med/092838

500 pounds price tag deconfirmed by Blaze: http://www.eurogamer.net/articles/2012- ... tag-mooted
Original post
http://andriasang.com/comzr4/neo_geo_pocket_2/
Does anyone know anything about this? Is it even real? I feel like I'm dreaming just looking at this sexy beast.