This is the [type of] phone I have been waiting for. I will probably get the first phone to rock these sort of specs. Not simply because it has a quad core 2.5 ghz cpu, I'm not one to screem "Zomg look at those numbers!!!1!1 That must be good!".
To address Blendercloud: firstly, quad core 2.5GHz does not mean each core runs at 625MHz, each core runs at a full 2.5GHz. And secondly, this is not the Tegra 3, the Tegra 3 is not capable of running at 2.5 GHz mainly because it's based on a 45nm technology.
The Zeta is rumored to be rocking the brand new SnapDragon APQ8064 which is based on a 28nm technology. This truely next generation chip will not only have LTE on-chip, it will also be paired with a next generation dual or quad core GPU for "4x the preformance".
As for the camera, 8MP tells us nothing. Until we know what sort of lens, back lighting, and overall quality of the sensor we won't have a clue how it stacks up. But please don't expect anything higher than 8MP in the next few months unless a company is skimping elsewhere just to appeal to marketers with a high 'megie-pixie count'.
I will admit though, it may be time for more RAM. 1GB is enough, specially the way Android handles memory management, but I do feel developers will be able to utilize phones with 1.5-2GB within the next year if they start developing apps/games that are capable of getting a 2.5GHz quad-core CPU to start sweeting.
All in all, I'm estatic to see phones making such a giant leap in hardware in such a short amount of time. I can't wait to rock this phone, or something like it. My only hope is that this phone doesn't become the next Droid Bionic which got delayed for 8 months after it's announcement in Q1 2011.