The one laptop per child project really sounds like a great idea. Design a computer that can be mass produced for around $100 each, give them to millions of kids in developing countries, viola! instant smart kids.
While there is a lot of value in learning how to use a computer while you are young, most of the true educational value won’t come through the hardware itself. This type of mindset is very common when it comes to technology. People like to focus on the hardware instead of the software. Focusing on what a piece of equipment is theoretically capable of is a lot more exciting than focusing on how you can actually use it today.
In the US educational system, there are many computers. The problem is that teachers are ill equipped to really use these computers as educational tools. Sure, computers are a great way to learn how to type, do research, write papers, etc., but most of the time they are acting as little more than replacements for books, pencils and paper.
Technology is capable of so much more. We should have systems that actively teach kids in an individualized way. Computers should be able to learn how to teach by looking at the results on an individualized level as well as aggregate information about all students.
I like the OLPC project and I really want it to be successful, but technology is only as good as what it allows you to do. Buying a Pocket PC or new desktop computer only helps your productivity if it has software that lets you do more in less time. This is especially true in education.