It’s happening this morning, at SF’s Palace Hotel at 9 a.m:

Here’s the story (free registration) from our Merc colleague, Jessie Seyfer:

Palm, the Sunnyvale maker of multi-function Treo phones, will have some star power from Microsoft Chairman Bill Gates on hand Monday when it’s expected to launch its first Treo that uses a Windows-based Microsoft operating system, industry sources said.

The operating system will power Palm’s newest Treo multi-function phone, the 700w, making its debut at the invitation-only news conference Monday.

Engadget has the scoop, with pictures of the Treo and available specs: one megapixel camera, EV-DO, Bluetooth, 64MB of memory.

That’s right, EV-D0, meaning that if you have an existing contract through Sprint, you might have to get an additional contract with Verizon to upgrade.

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