The Spanish people should be grateful because they can attend one of the most important tech-related event of the year: the Mobile World Congress. It should not be weird to hear rumors coming from Spain, but this is one very odd rumor. The Zune Phone will feature a 480 x 272 touchscreen, NVIDIA Tegra chipset, HDMI port, and it will weigh 2.45oz.

Notice something familiar here? These are specs of the Zune HD itself and they’re contrary to all the rumors that have been circling around here for quite some time. Javier Pérez Cortijo, MuyComputer Director, said that the rumor is 100% confirmed and that Microsoft won’t be alone on the stage: NVIDIA will be there, too.

I don’t know what to say, but the 480 x 272 screen simply makes me doubt that this information is real. I don’t think Microsoft will make a phone with such a small screen resolution. The Zune Phone needs to be great, just like the Google Phone. I don’t think Redmond will bring something that’s not… great! You know? Anyway, it’s nice to hear from somewhere else that there is a Zune Phone, not just from the .inf files of the Zune 4.2 firmware.

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Just last week, we got a peek at Nvidia’s new line of HD-video-playing processors in downtown Manhattan. One, the Ion, is a GPU that pairs with an Atom processor to give Netbooks gaming and HD-video-playing muscle, coming soon in Netbooks from Lenovo and Samsung.

The other, Tegra, is an all-in-one chip: it has an HD video processor, but it also has an ARM processor, making it an all-in-one computer on a chip that will be put on phone company-branded Netbooks toward the end of the year, according to an Nvidia representative.

But that’s not all, it seems: rumors around the Web are suggesting that the Tegra might be placed in upcoming smartphones as well. With a Tegra processor, these phones would have pretty impressive HD and gaming capabilities.

Add to this Dell’s entrance into the handheld Internet device arena and the beefed-up graphics of the iPhone 3GS, and an interesting showdown is in the works between the new-generation smartphones and fall’s upcoming crop of graphically superior Netbooks.

Assuming prices hold steady, the costs might be similar, too. A Netbook can currently run between $299 and $500, while smartphones run between $199 and $299, subsidized (and up to $600 unsubsidized).

There are even some new ‘tweeners…