You can find all the info right here:
http://shield.nvidia.com_____________________________
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Features:System's Processor:
THE WORLD'S FASTEST
MOBILE PROCESSOR
Custom 72-core NVIDIA GeForce® GPU
Quad-core A15 CPU
Controller:
HOW GAMES WERE
MEANT TO BE PLAYED
Ultimate control and precision with a full-size console-grade game controller
It's basically the result of a PS3 Controller having love with the XBOX 360 Controller. Same 360 buttons with both joysticks at the bottom. In the back of the system there are also some plugs for HDMI, USB, Headphones, and a MicroSD slot.
Screen Quality:
YOUR GAMES HAVE NEVER LOOKED SO GOOD
5-inch 720p retinal multi-touch display for high fidelity visuals
So the screen is pretty much the same as the PS Vita, if no better.
Audio:
TURN UP YOUR GAME
Custom, bass-reflex, tuned port audio system delivers fidelity and custom range never before experienced on a portable device
This is one of the first handhelds I've seen use bass speakers.
Internet Speed:
NO LAG MEANS NO EXCUSES
802.11n 2x2 MIMO game-speed Wi-Fi provides high-bandwidth, ultra-fast wireless for seamless game streaming
Probably the most important part to anyone who streams LP's and stuff of the sort.
Android OS:
PURE ANDROID, SO NOTHING GETS IN YOUR WAY
Project SHIELD is stocked with the latest Android Jelly Bean operating system from Google, providing access to all your favorite Android applications and games
Even though Android's not everyone's pick, I'm sure we can all agree that it's the best handheld game market available. But don't worry, Steam will also be available on this device. :D
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And finally some pictures:


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So, how do you like them apples?