The black Novel is a completely different set of hardware from the white Novel. There are really only 2 key differences, though. The first is the touchscreen and the second is the amount of internal storage.
The white Novel has an internal microSD card slot (which can be upgraded). The black Novel, on the other hand, has 2GB of Flash soldered to the mainboard.
I have one of the early review units, and I will post the review as soon as the embargo is lifted. Until then, here is a brief unboxing video: