Not entirely a new category this; there have been a few USB stick routers previously, but Netcomm's is interesting in two ways. Firstly, it doesn't look like it fell off the back of a Shenzhen factory. Secondly, Netcomm states it'll work seamlessly with Telstra's 4G USB Modem. That's not to say it look stunning -- the best place for any router remains in a cupboard in my opinion -- but it equally doesn't look particularly trashy.
I've requested a review sample of the M2 -- formally the 3GMWN N150, which suggests it's not a full-speed wireless-N product, not that this really matters for a product you'll chuck in a bag anyway -- but it's available today through Telstra dealers for $79.