Using Android Phone as a Computer via HDMI/Bluetooth

I’m curious if anyone has any direct experience in trying to connect their phone via HDMI to a monitor and using a Bluetooth mouse/keyboard. As an example:

Galaxy Nexus on HDMI Monitor (http://www.youtube.com/watch?v=_--zcmqIyRI) the setup in the linked video seems to be pretty slick, but I’m wondering if I’m missing any gotchas (monitor resolution scaling incompatibilities, how to get sound, what happens when the phone rings, etc.)

Also, this project doesn’t seem to have gone anywhere: Ubuntu on Android (http://www.ubuntu.com/devices/android) which is unfortunate. Too bad, it looks promising.

Some things I picked up on:

Any phone without on-screen home/back buttons would be a pain to use

A magic trackpad seems to be ideal for this application

As I don’t have an Android device with HDMI out, I can’t try this myself. Has anyone tried this? What phone did you use?