Can be as cheap as $49 or $99, run a full ARM Powered Google TV with advanced 3D video-gaming. For example using Mali-T604 graphics, the graphics are comparable to an xbox360. It basically plays all Android games on the TV. Use a Bluetooth or RF Keyboard/mouse and you've got a full Chrome Desktop on your HDTV. It also includes the Android@Home RF protocol for connecting all your home appliances to the web. USB host for hard drives, becomes a WiFi hotspot, may also dock a White Spaces modem/router later so you share your unused home bandwidth to your whole neighborhood. Google can brand as much hardware they want, and I think they should, they just also make that hardware and software open source and let any other hardware makers sell it also.
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Source: my logic/speculation and the Wall Street Journal