There are two chips initially, the 400MHz 3120, aimed at appliances running Linux, among other things, and the 5400, running at 700MHz and aimed at Windows portables. Casually describing Intel chips as rather rudimentary, Ditzel confirmed that Transmeta's Crusoe family of chips is being fabbed by IBM, and will be aimed at the x86 mobile computer market. The company showed several demo systems powered by Crusoe chips. Windows is the OS where the obvious immediate money is, but it's worth noting that Ditzel says Transmeta is going into mobile Internet computers, which may mean he's looking at form factors where other operating systems are appropriate. So go figure, if you hadn't clocked the significance of the 400MHz low power appliance chip already.
Power demands are also lower, hence making it more appropriate for mobile computers.
The 3120 is in production now, while the 5400 is to be fabbed in 0.18 micron for mid-year.