Tom sent me a link to Jonathan Wells' blog entry about the .netcpu:
.netcpu Corporation's new '.NET' Embedded development kit includes a .netcpu CPU Module, a general purpose microcontroller for programming embedded solutions using C# and the Microsoft .NET Embedded CLR. Use the kit to experiment with projects such as low-power and sensor applications( eg data collection and logging sensor) or create a simple, smart embedded device (eg smart refridgerator, robot or home automation system).
Note the words “Embedded CLR“...i.e. I'm 99% sure this is the same CLR that powers the SPOT watch. Rick Rashid had something in his OOPSLA keynote about this SDK. You can order the .netcpu Starter Kit for $499 or just the CPU module for $199.
I think I need to update my xmas list...
Update - There's a good technical article about the .NET Embedded on WindowsForDevices.