It is monaural, as confirmed by Engadget's review, and they also criticized the poor speaker placement. Nor did they rave about the sound quality or volume -- they described it as only "quite good", when not blocked by your hand due to the location of the speaker grille.
Sorry folks, but to me the sound seems to have been downgraded to achieve the slimmer chassis. There's still a possibility it is louder, but that's about it.
Head of an Android household: HTC One X+ International 64GB, HTC One X International 32GB, two hopelessly unstable Asus Eee Pad Transformers (32GB and 16GB, each with keyboard docks; remember -- friends don't let friends buy Asus), Samsung Galaxy Ace, and a Fuhu Nabi 2.