(Photo from Engadget)
Engadget took a look at the new Microvision projector (at CES) that is built for mobile devices, its pretty cool but if you look properly, the device in the picture it looks like a mockup. The whole "mobile device" is actually the projector itself as the circuit board for the projector is as large as the device as can be seen from this picture.
But this is a good start. All you have to do is to embed that circuit board with a HTC Excalibur phone and you might get a device that looks like a new version of the HTC Universal with a projector. Sweet.