Looks like some of the readers already have a Windows CE based Picture Frame - check out the following thanks to Bart Meeuwissen from Delem for sending the photo's and the following description...

The size of the display is 10.4 inch, the processor is a geode GX1 (x86 alike) running at 300 Mhz, I'm using 100 Mbit Ethernet wired connection at the moment. We have a wireless solution for our controllers, but it is using an PC104 extention card, and I haven't got the room for it in the picture frame, to bad.
 
The resolution of the display is 640x480 is nice for photo's but unfortunately is not so great for web-sites I realized.
We have recently added the feature in our controller line of having a 12", 800x600 touchscreen display.

Here's the Picture Frame hanging on the wall - looks pretty nice, eh !

and, Picture Frame Internals.

- Mike