PalmOne today announced the Tungsten T5 handheld. The US$399 device offers 256MB of flash memory, a high-resolution 320×480 color screen, Bluetooth wireless technology, an Intel 416MHz XScale processor, and all-new “sleek and slim” design. The Tungsten T5 will be widely available on Nov. 3. In related news, PalmOne has announced a $50 price cut on the Tungsten T3 handheld (now $349).