(FORTUNE Magazine) – Convergence is just around the corner--really!

For years now, companies have talked about creating products that bring together a telephone and a small computer. So far all that talk has been just that--talk. Cell phones use too much power; handheld computers are too big; the user interfaces are so different they can't be combined; and the resulting products, not surprisingly, have been duds. But now the geeks may have figured it out! Two companies are unveiling new devices that represent the first real convergence I've seen.

In September a startup company called Danger Inc. announced a product it calls the Hiptop. And in late October, Handspring announced the Treo 180. Both are wireless devices that fully integrate a cell phone and a personal digital assistant, and both are set to debut next spring. Motorola is about to introduce a similar device. And plenty of other companies, including Microsoft, seem to be readying "truly converged devices," as wonks like to call these things.

(In the interest of full disclosure, I should point out that my wife and I purchased shares in Danger during the company's first round of private financing last year. We also own shares in Handspring, which is a publicly traded company.) I don't know yet about the products from Motorola and Microsoft and so forth, since details haven't been announced. But it's clear that next year we get real convergence, starting with the Handspring and Danger products. Both companies have gotten the essential elements right:

--Their devices will be really small (a little larger than a credit card), lightweight (around five ounces), and efficient (more than two hours of phone talk time and 60 standby hours).

--Both devices use an operating system that can be extended with new applications and accessories. Handspring's Treo runs the popular Palm OS; Danger's Hiptop uses its own system, which requires less memory, runs Java applications, and should be easy for developers to work with.

--Both devices have learned from the BlackBerry. They feature tiny keyboards, which are fine for small amounts of text, and a "jog dial," a little wheel that can be rolled and clicked with one thumb, simplifying control of the device. Most important, though, is the fact that your e-mail will be delivered automatically and synchronized wirelessly with your home or office device.

If these products do all they promise--and the early signs are that they will--they will show that convergence is not just another word for compromise. They will be proof that converged devices can actually deliver all the functionality of devices built exclusively for a single purpose.

There is one interesting difference between the two devices: The Handspring Treo looks and feels more like a telephone, while the Danger Hiptop looks and feels more like a handheld computer.

Handspring has created a flip phone that looks similar to the Nextel phones that first came to market a few years ago; like them, the Treo will double as a speakerphone. What's interesting is that Handspring discovered that the keyboard inspired by the BlackBerry actually serves as a great way to dial phone numbers from your contact database, even though it was originally designed as a way to write short e-mail messages.

Some of the team that designed Danger's Hiptop learned their design lessons at WebTV, and they aim to make the Web just as easy to use on their handheld. Their user interface treats the telephone, Internet browser, e-mail, and calendar all as programs of equal importance. Like WebTV, the Hiptop does a remarkable job of making the task of surfing the Internet painless and familiar. Even though you're using a wireless device that fits in the palm of your hand, Web surfing has the same feel as when you're using a personal computer.

I don't know which device will win the marketing race. I suspect it will have something to do with whether people prefer the feel of a phone or a handheld. But I am certain that these companies are on to the future of convergence, and that other groups of geeks are not. Many engineers playing in this field are still trying to fit a full-sized computer into a handheld device. One enthusiastic geek actually crowed to me that his device would run both Windows XP and Windows CE at the same time! So what?

A small, cheap device that's both an enhanced phone and an easy-to-maintain calendar--that's what I want. Come this spring, that's what we will get--finally!

STEWART ALSOP is a partner with New Enterprise Associates, a venture capital firm. Except as noted, neither he nor his partnership has a financial interest in the companies mentioned. He can be reached at alsop_infotech@fortunemail.com. His column may be bookmarked online at www.fortune.com/technology/alsop.