The rumors around the HTC Trophy are that it is a thin QWERTY candybar with Windows Phone 7 for an operating system. At first it was supposed to run WinMo, but HTC shelved the plans until WP7 hits the market. Other floated specs include a 3" capacitive touschscreen, 600MHz CPU, 5MP camera, and 512MB RAM/256MB ROM. Add under the screen a physical QWERTY, and the handset could possibly be enormous. It is an interesting form factor, of which there aren't many on the market, so we are waiting for some more concrete info to leak out.
HTC Trophy Preliminary Specifications
source: Bestboyz.de via WMPowerUser