The picture above comes from a post on HowardForums and appears to be a "Getting Started" manual for a Motorola Android phone headed to Verizon Wireless. Engadget said that they have never seen a picture of the phone before, and it looks new to me as well. Take a look at the rumored specs below.
The rumored specs and details from HowardForums include:
1. Tablet form-factor
2. 4.1" TFT FWVGA screen
3. Texas Instruments OMAP 3630 Processor
4. 2MB built in memory [I'm assuming that is a typo and they meant 2GB]
5. Android 2.1, with soon-to-follow upgrade to 2.2
6. Moto BLUR with updates such as BLUR community chat
7. 8 MP camera
8. 720p recording
9. 1080p output via HDMI port
10. ~9mm thick
11. Releasing in July
The design looks like a mixture between HTC and Motorola styling. As for a possible name, AndroidGuys says that they "heard Droid 2, Droid Xtreme, Shadow, Droid Shadow, and a couple others." Personally, I think that Droid Shadow is the most likely name, assuming that Verizon will continue with the scheme of the Droid name followed by a second name, like with the Droid Incredible.
No evidence of a slide-out keyboard so far, but Engadget speaks for many when they say that they wish for "a secret slide-out keyboard to make our lives complete..."
Image from HowardForums