Here's a link to pics of the inside of the M6805/M6807: http://www.kingofl337.com/emachine/
The 3rd pic shows the cooling system (dual fans) inside the laptop and the 4th shows it outside of the laptop. Looks pretty effective. I'm impressed.
The cpu is socketed via ziff and can be removed per these pics. (found them on another site, not mine).
I'm heading to Best Buy Saturday to get one, although there's only 1 left. I may have to order one online and have it shipped.
I took a first-hand look at it at CCity and it seems decently built. Didn't like the sides that are made of shiny plastic and the blue led around the power button looks generic and cheap, but other than that it seems good enough with those specs. It was quick and responsive. I checked the specs on the display model and it had a Hitatchi HD. Screen was comparable to other laptops w/WXGA. I liked the keys which had some depth to them unlike Compaq's X1000, which I returned to hpshopping.com. The X1000 is a better design, but way behind on components compared the the M6805/M6807. I'd rather have really good components rather than a good looking laptop.