The guys at Pocketnow have published a video showing the latest Windows Mobile 6.5 build due to launch in Spring (NZ) and though this might not be the final version we'll be getting, it gives a good indication to what Microsoft is planning for to enter the fingers-only smartphone wars.
New things to note about the new build are the rounded edges of the screen and the new tab system which eliminates the use of a stylus, replacing them with a looping track that allows you to swipe your fingers across to navigate.
If you haven't seen WinMo 6.5 in action at all then this'll be a video to watch. The "Honeycomb" UI looks easy to use and it runs smoothly though I have a slight issue with the tiny font in some sub-menus cause you'll need to squint to read. Other than that little problem I think it's a potential contender to other smartphone OSes like Android and the OSX.
Pocketnow - Windows Mobile 6.5 Build 21925: A Closer Look