After about 45 minutes of casual sexism and awkward pauses, NVIDIA's Jen-Hsun Huang dropped the bomb. Project Shield is a handheld gaming console running pure, unmodified Android (Jelly Bean). At its core is the newly-announced Tegra 4 ARM chip, but that's not all.
Update: Official video of Project Shield:
The device looks like a standard wireless controller with a flip-up screen. Around the back are I/O ports, and there's no proprietary nonsense here.