Now a days there is big competetion in mobile market, so any new company hoping to carve a niche for itself really needs to offer something that is different from the competition. Velocity Mobile's approach seems to be this: put as many features into the phones as possible and try to appeal to people who want a no-compromise device.
Velocity 103
* Available: Q2 2008
* Network: GSM 850 / 900 / 1800 / 1900 UMTS 850 / 1900 / 2100
* Data: GPRS + EDGE + UMTS (3G) +HSDPA + HSUPA + WiFi
* Screen: 480 x 640 pixels, 262k colours
* Camera: 2 megapixels (main) 0.3 megapixels (sub)
* Size: PDA style device 113 x 58 x 15mm / 130 grams
* Bluetooth: Yes
* Memory card: MicroSD
* Infra-red: No
* Polyphonic: Yes
* Java: Limited
* GPS: Yes, aGPS
* Battery life: 4 hours talk / 8 days standby

Velocity 111
* Available: Q3 2008
* Network: GSM 850 / 900 / 1800 / 1900 UMTS 850 / 1900 / 2100
* Data: GPRS + EDGE + UMTS (3G) +HSDPA + HSUPA + WiFi
* Screen: 320 x 240 pixels, 262k colours
* Camera: 2 megapixels (main) 0.3 megapixels (sub)
* Size: Messagiog device 116 x 62 x 15mm / 149 grams
* Bluetooth: Yes
* Memory card: MicroSD
* Infra-red: No
* Polyphonic: Yes
* Java: Limited
* GPS: Yes, aGPS
* Battery life: 4 hours talk / 8 days standby

I think these two can be a great smart phones. Hope for best.
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