Does the M8 run like a computer?

Hey, new here.
I just found out about the M8 yesterday. I was planning to get the ipod touch until then because the iphone is way to expensive, the reason i wanted the ipod touch so much was because of it's Wi-Fi capabilities. Now i've seen this M8 i want it. But i've got a question, can the M8 run any program on it which is within it's specifications, i mean i don't wanna go run Halo on it or something, just can it run like a less powerful computer? Sorry if this is a stupid question, i don't really have any idea about smart phones and the price range has always been too high for me. Can't wait for this thing to come out

i'm afraid nobody has the answer...however i think because of the win ce 6.0 you can run custom apps somehow!

u can run the M. office
and all pocket pc programs, like calculators games etc i think