No, not that arm (though the picture came from an interesting blog). Instead, ARM, the processor architecture.
My admittedly simplistic understanding of ARM is it’s battery life friendly. In any event, ARM is implemented in a number of existing devices (e.g., Nokia N900 and the Archos 5 IT) and in the Qualcomm Snapdragon platform. CES may see ARM’s implementation in new devices using the Tegra 2 processor.
Chippy of UMPC Portal has just published ARM Products and Platforms Primer and Resource List for Mobile Internet Devices in 2010. His article is very thorough and well-researched, and worth reading to better understand something you’ll likely be hearing more about in the months to come in connection with the newest and greatest devices.