OneStopPhoneShop has this Orange M500 smartphone on 11 months half-price line rental in Orange Dophin 30 tariff (12 month contract).
The term cost is £195 and going through Quidco will get you £30 cashback. So, the actual cost is £13.75 / month for 12 months.
M500 has 416MHz Intel XScale PXA272 processor running Windows Mobile 2003 Second Edition. There's 64MB of RAM, spilt between storage and run-time memory, and 8MB of Flash for backing up important information. The memory is ample, and the processor fast enough.
The following are some comments on M500 that I noted from review sites:
"The M500's dimensions remain a palm-friendly and iPod-like 10.6 x 5.7 x 1.8cm, give or take a millimetre here and there"
"the M500 from Orange is here to replace your office, your phone, your PC, your camera and your dog*. (*Almost, it has a barking ring tone.)"