It was discussed in the Interbike thread, here are some thoughts:

1. Supposedly, SE Racing has been purchased by the same folks that own Mercier, Windsor, Motobecane, Dawes, et al. So, definitely a cheap bike.
2. One-piece cranks = super-cheap, and for the most part unsealed. However, you can easily upgrade to Profiles or other blingin' BMX cranks to make it look ultra-dope.
3. Nobody has said that it's fixed yet... I would bet on it simply being a flatbar SS.
4. Seatpost is in the style of ultra-cheap BMX-style clamp, another ridiculous place to save money, but they did it.
5. As has been the case with other BMX-centric companies who put out a cheap bike of another genre (redline *cough* *cough*: It might be just supercheap BMX hubs, in other words, 110mm rear spacing.