If you are plugged into the Android universe at all, you have probably read about a little rumor originating over at TmoNews about a T-Mobile initiative called Project Emerald. These last few days have seen tons of conjecture and guesswork as to what it’s all about. After a few conversations with super-secret sources placed around the world, we’ve put together a short list of what we’ve been told. These bits come from a rather reliable source who has yet to burn us so we feel good publishing them.

The handset will be the Samsung Galaxy S. However, this will not be an all-out exclusive deal. T-Mobile will be one of four carriers to provide the phone, something we’ve heard before. With the Droid Incredible and HTC EVO getting a great deal of attention these last few weeks, Big Magenta has fast-tracked this phone for release the first week of July. This also matches up with the “summer launch” we heard back at CTIA.

Here’s where things get really interesting. Apparently Verizon and AT&T will also offer a similar Galaxy S but Sprint‘s version will have a sliding QWERTY. Weird, right? There’s more. Some of these seem like more of a stretch than others, but whatever. If we’re right, remember where you heard this stuff first.

The phone will be Android 2.1 but should be 2.2 when it arrives.

Sprint’s handset will arrive later than the others

Somehow, the Hummingbird processor is out and the Snapdragon chip is in.

All but AT&T’s model will have a camera flash

So… what have you heard?