Windows Phone Thoughts: Windows Phone 7: Affordable Edition

Microsoft is apparently thinking of putting out a cut down version (at least in terms of hardware specs) for emerging markets. Why this matters is that the subsidy and contract model - where the cost of hardware is offset by carrier subsidies - isn't that prevalent outside the US, Europe and Japan. That puts many of the planned W7P handsets (that we know of) out of reach for the average smartphone user. Engadget is also speculating this version may be the HVGA screen configuration that was leaked a couple of months back. Good? Bad? Let us know.