As for the claimed specs, Engadget writes that the phone features "a 3.7-inch display, a 1GHz processor (Snapdragon, we assume), and Android 2.1 with Sense (the launcher looks like stock Android in this photo, but the status bar is clearly HTC custom)." AndroidCentral adds that the phone also sports 1.2GB of onboard storage.
AndroidandMe mentions that "recent rumors claim T-Mobile was planning a high-end HTC phone with a QWERTY keyboard, which we have been referring to as Project Emerald." However, they also add that the claimed specs of the device pictured don't jive with the rumored specs for what the "Project Emerald" phone should have.
Almost as if to counter AndroidandMe's observation, AndroidCentral notes that "the HTC Vision is a name that's been oft-whispered of late, first in a mere user agent string and more recently in unsourced dual-core processor rumors."
EuroDroid admits that the phone is "perhaps a little bland looking compared with HTC’s usual style – but that didn’t stop the original Motorola DROID from being a whopping smash."
As for what this device is, where it is going, and when we will see it, you'll just have to wait until the next leak.
Image from AndroidandMe