Here are pictures of the rumored "headless" sub-$500 Mac. According to the pictures it's called the iHome Media Center.
The question you have to ask yourself is, is this a hoax or not. Here are some arguements in both directions:
For real
-It's with a bunch of other Mac stuff
-It has a slot loading drive like most Mac computers
-It has a white case similar to some of the Mac products like the iBook and eMac
-It comes in a box that looks like an Apple style box
-In several of the pictures you can see a mac instruction manual
For Hoax
-The picture could have easily been doctored using a photoshop-esque program
-Although there are no pictures of the sides, there doesn't appear to be any sort of monitor/TV hook-up
-The pictures are of to low of a quality to tell if the instruction manual is for the iHome or if there are any othe discrepencies
-The fact that the pictures were posted, after thinkapple (I think that was the name of the site) got sued for being the first to release the rumor
Added-Center is spelt Centre, Incorrect spelling in the US where Apple is HQ'ed
So what do you think? Not that it matters to much since we'll no for sure on Tuesday when Steve Jobs gives the Keynote Speech @ Macworld.