If it's meant to be successful, Omnia M must be way cheaper than Omnia W. It has bigger screen and a touch Home button (not a hardware one) below the screen, but:
- same resolution (480x800), so lower pixel density
- slower CPU (1 vs 1.4 GHz)
- less RAM (384 vs 512 MB)
- less storage (4 vs 8 GB)
The price should be set between Nokia Lumia 610 and Omnia W, but it will probably cost as much as Omnia W right after the release.