http://www.vtec.net/news/news-item?news_item_id=708165
Seems they've already got the drivetrain in testing. These cars appear to be the Japanese Honda Stream, but with the Japanese Jazz/Fit front end hap hazardly welded on. They are left side drive, which the stream was never offered as, so they are definitely for this market... plus they have California manufacturer plates on them.
Personally if this is a representation of what's to come, a decent size four door that gets comparable or better mileage than a Prius for less money I'd say Honda will have a real winner on their hands. It might not be the small nimble Insight replacement we were hoping for, but probably a big number seller for Honda. I'm betting the size will be similar too because if you look at the pictures of the Japanese Stream the pictured vehicles appear to have a longer wheel base.