When HP announced the new Mini 1000 netbooks earlier, it made no mention of an additional version under its Compaq brand. Spotted in the UK, the Compaq Mini 700 is very similar to the HP Mini 1000 but does have a few differences. Rather than a 10.1-inch display, it will reportedly sport a 10.2-inch 16:10 ratio display (That sounds odd to me and I would bet more on a 10.1-inch screen like the Mini 1000). It will also come with an optional HSDPA module.
The Compaq Mini 700 is expected to be available in mid-December for about £299 (about USD$480).
I suspect that when HP announces the Mini 700, it will do so with a carrier partner for that HSDPA module.