Underclocking Android phones is nothing new. Motorola underclocked the OMAP3430 processor found in the Verizon Droid from its original clock speed (600 MHz) down to 550 MHz.
We originally thought the Acer Liquid would be a 1 GHz phone since it featured the Snapdragon platform, but we were wrong. French site Revioo.com attended the Acer press conference last month and captured the actual clock speed from one of the presentation slides. Hopefully, one of the other Android-powered Snapdragon phones will ship with the full 1 GHz speed.
The Acer Liquid is reported to be available overseas sometime in November and will ship with Android 1.6. Revioo also has a quick video overview of the Acer Liquid posted to YouTube.