Earlier this month, rumors were revived that Google really was finally making a "GPhone".  The phone's name was quickly leaked -- the sci-fi-esque designation Nexus One.  Google also confirmed that it had given employees a snazzy next generation phone for Christmas (it was these loose lipped employees that originally spilled the beans on Twitter).  According to reports, this time around Google personally customized the OS and designed all the basic software bundle for the phone, unlike past Android handsets where it split software responsibilities with its partners.  Reportedly, HTC is producing the hardware for the Nexus One handset.

Now more details have been reportedly leaked.  Reportedly the phone will be primarily carried in the U.S. by T-Mobile, but also be available in unlocked form for use with other G.S.M. carriers -- in the U.S. that means AT&T can handle the phone as well.  According to T-Mobile News' "internal sources" at T-Mobile, the phone will launch on January 5 at 9 a.m. via online orders only.

According to a later report from Gizmodo, the phone will not be sold at-cost as many speculated.  Rather than bringing a phone revolution and offering unlocked-only and profit-free handsets, Google instead appears to be opting for a more capitalistic approach, offering the unlocked handset for a tidy sum of $530 and a discounted handsets for $180 with a two year T-Mobile contract.

To keep existing T-Mobile plans -- such as the Family plans, Flexpay, SmartAccess and KidConnect plans -- you must opt for the unlocked phone, reportedly.  Otherwise, you can pick up a specially designed voice+text+web plan for $79.99/month.  That's just slightly more than the basic iPhone plan with 200 texts ($75/month).

Other notable restrictions reportedly will apply.  You can only purchase five phones per Google account (okay, this isn't such a big deal, as making new accounts is a breeze).  And more importantly, if you cancel the contract on the T-Mobile-carried phone, you'll reportedly have to pay the difference between the unsubsidized phone and the discounted phone -- $350.  However, there's a significant catch -- you can send your phone back to Google and not pay any phone-specific ETF (though T-Mobile might still hand you an ETF).

Google has invited reporters to "an Android press gathering" on January 5, lending credibility to the hoards of leaked info.  A Google spokeswoman said that the press conference would be held at 10 a.m. and followed by "demonstrations" afterwards.