Hideously awful product idea meets its fate

A little closure here for long-time HA readers, who doubtless remember this trainwreck as fondly as I do. “Wait, AP — you mean people who already own a cell phone and a fully-loaded laptop don’t want to pay 500 bucks for another, slightly smaller, much crappier laptop?” Alas, my friends, that’s exactly what I mean:

Chief Executive Officer Ed Colligan said Tuesday the Foleo, a lightweight computing device meant to be paired with a smart phone, is being canceled just three months after it was announced. Colligan said the challenge of creating the Foleo alongside Palm’s traditional business of smart phones and personal digital assistants proved too much for the Sunnyvale company…

The Foleo was the pet project of Palm founder Jeff Hawkins, who proclaimed in May it was “the most exciting product I’ve worked on in a long time.”

Two clips here near and dear to my heart, the first an intellectual exercise called “Why Would I Ever Buy This Product?” and the second the now-immortal video in which Hawkins himself excitedly touts one of the device’s chief selling points. Contain your excitement, if you can.