http://venturebeat.com/2011/09/29/an...ich-demo-ebay/
If this is real, and it looks like it, be rest assured that ICS will be able to run on most phones. That seems to be running on a Nexus S 4G, which is a 1GHz single core with 512MB of RAM.
So, if you have a phone any newer than what looks like around the Droid X, you should be pretty much all good to run it.
Another refreshing reveal, if real, is that the hardware buttons, while it looks like they won't be needed for phones running ICS out of the box, are still very much functional in those that do.