Today I received my Fifty-One Trio Electronic Cigarette. I saw a special deal for $9.95 in an advertisement on TPM and ordered it. It's quite an attractive device and came nicely boxed. (It's the size of a regular cigarette.) I bought it to minimize the damage to my lungs from smoking and maybe as a precursor to quitting. The filter part contains nicotine suspended in water and propylene glycol (harmless) and also an atomizer to create "smoke" (basically water vapor with nicotine suspended in it). The white part is a battery and a "computer" that activates the atomizer when you draw on the filter part. It also came with a battery charger. I'd seen TV news reports on these devices.
I charged the battery as instructed. And then, no smoke. Apparently the atomizer unit is defective, or else the "computer" isn't activating it. I followed the instructions (of course) and tried repeatedly to make it work and ended up emailing the company (based in Miami) about what to do. (The thing is made in China, by the way.)
This video is from 2007. The technology has advanced to where the devices look more like real cigarettes (such as the one I bought).
On a different note, see this.