Initial reviews coming out of Howard Forums seem to indicate that the HTC MTeoR only supports the 2100mhz frequency for UMTS and is a tri-band (900/1800/1900) phone otherwise, this despite being marketed as a tri-band UMTS and quad-band Edge phone. If true, this means that the MTeoR will not support the U.S. flavor of UMTS and misses out on the important 850 band, which means spotty coverage and bad reception for American users. These reports are not yet confirmed, but for those in the U.S. who are thinking of purchasing this device you may want to wait until matters have been settled.
According to HTC's European website the MTeoR is listed as a "Tri-Band UMTS; Quad-Band EDGE" phone. The HTC TyTn, announced at the same time, uses the same language and has been comfirmed to support U.S. UMTS on Cingular's network. If true, the MTeoR's lack of appropriate bands for the U.S. may explain why no carriers have been rumored to be picking up the phone, while the TyTn and Star Trek are both being picked up by Cingular.
UPDATE: As confirmed in Arne's HTC MTeoR review, the device is definitely supporting UMTS at 2100 MHz only as well as supporting GSM/GPRS/EDGE at 900/1800/1900 MHz only! See the review for more information.