Thats an interesting question.
Don't know wether such a phone exists, but I would like to have all these features for less than 20K
1. 8GB HDD
2. Video camera, Still camera 2MP with some manual controls and a low noise CCD
3. media player with functionality of amarok
4. GPS system with auto navigation capability
5. 300-500MHz processor with full OS like Linux running
6. Total openness. No locking nonsense. I should be able to run any third party application, like I can do for Nokia, though I wish it had a better OS and processor.
7. WiFI, bluetooth and standard USB cable connectivity, don't give me those custom cables.
Some of the possible contenders:
Linux hacked onto GPS-enabled PDA/phone Dual-mode GPS/Bluetooth phone runs Linux Samsung ships Linux smartphone in China