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Wired has an article on Ettus Research and their $550 USRP. From the Ettus website:
The Universal Software Radio Peripheral, or USRP, is device which allows you to create a software radio using any computer with a USB 2 port. Various plug-on daughterboards allow the USRP to be used on different radio frequency bands. Daughterboards are available from DC to 2.9 GHz at this time. The entire design of the USRP is open source.
The USRP works with GNU Radio, a free-software (open source) framework for the creation of software defined radios.
I've written before about software defined radio. Nice to see it actually getting out into people's hands.