The E8860 is a 37W multi-chip-module FCBGA part, which measures 37.5mm x 37.5mm. The GPU has a PCIe 3.0 interface and runs 640 SPs at 625 MHz. The GPU itself is similar to the HD7000 series, and is paired with 2GB of GDDR5 at 1125 MHz. It can manage the usual DX11.1, OpenCL 1.2 and OpenGL 4.2.
AMD claims the chip has managed P2689 in the 3DMark-11 stand when it is paired with an AMD R-464L APU. The E8860 either can be paired with a BGA or socketed APU if you switch on dual graphics mode. This could mean some good GPU performance if paired with a good APU and it would have the advantage of leaving a PCIe x8 slot free for other devices.
Of course there is no word on pricing yet, but it will be interesting to see what AMD does with this part which has a little more grunt than much else in this market.