OUYA is a game console that's currently in the early development stage. The principal of OUYA is to provide an open, affordable, and easy to use TV gaming console to people. Their project is up on kickstarter, and they've been extremely successful (there's even donors at the $10,000+ range which you rarely see). In less than 12 hours they were already over their goal of $950k, and at the time of this post they've gotten over $2m in pledges. You can read/watch to learn more about the console yourself. The projected shipping date is March 2013.
What you can do right now is basically pre-purchase this console for $99 (since most of the other categories were limited and have sold out). Why should you purchase this console or not purchase it? That's what this thread is for. You still have about 28 days to make a decision, but IMO this console could be a much needed open and affordable competitor in the largely closed console market. Honestly, depending on how this console fares in the future I can even see the PC gaming master race losing a few members. It's way early to speculate the impact that the console will have on the market though. My personal view on this is that this is a $100 console. You don't see those very often unless you're buying like an old gamecube or something. Given what it is I think that's a pretty good deal, and if you have money laying around it's worth a shot investing in it.
Here is an article about OUYA. It highlights most of the problems people have already seen. I'm inclined to agree with the article (and most people) mostly. I'd love to see the OUYA succeed, but I'm not sure that it will.
looks like a glorified smartphone (fitting to run the android OS) that hooks up to a TV and is controlled by sub-par controller.
Not going to get, it will fail after the week long hype dies and everyone hates it.