Very impressive, and given this is running on Meego I believe (According to the ICS site), you could do all of this on a Beagleboard or similar (possibly with some of the effects turned down slightly to compensate.
I have a PandaBoard (successor to BeagleBoard) and I *think* I will be able to run the demo full throttle on that. It's a dual core 1Ghz ARM with OpenGL ES (think guts of the new Droid Incredible HD). I saw a really cool BeagleBoard Expansion Board by Pelagicore at CES. I hope they adapt it to PandaBoard. I could get a decent FM tuner out of that and possibly access to the CAN bus and the MOST ring.