HP and Palm

An odd thing occurred today - HP decided to purchase Palm.  You may remember that when HP was purchasing (in my opinion for a high premium) Compaq one of the attractions was the consolidation of the Compaq and HP handhelds which were assumed to be sophisticated PDAs.   I am not sure if the HP product is still on the market.   In the end HP bought a turkey in Compaq - they have now acquired a pretty good but pretty stodgy PDA maker at (even with a 23% premium) a pretty good price and they have kicked butt on printers.  (Which is what Walter Hewlett was arguing all along.)   So after all this time - what is the net result except that HP still paid too much for Compaq?