Some pictures (click to enlarge):

As you can immediately see the VelociRaptor is a 2.5 inch drive enclosed in a large finned black aluminum heatsink that fits a 3.5″ drive form factor.  I personally like the looks and functionality of a heatsink for these drives.  Having tested many previous raptors(36GB, 74GB, 150GB, 150GB RaptorX), I know they can get hot after extended running periods.  Over all I like this new Raptor design, looking both performance oriented, but at the same time providing some useful heat dissipation.

One thing to keep in mind is that although the drive fits the 3.5″ form factor, the location on the SATA ports is not standard (see last picture comparing it to a normal SATA drive).  What this means for the end user is that it will not be compatible with almost all existing External Hard Drive Enclosures, NAS Boxes, etc.