Lame science fair project + press-release ≠ tricorder.
You can pick up any scientific supply catalog and find dozens of multi-function environmental sensor devices. They've been around for decades. I've got a drawer full of them. They just keep getting smaller. And of course, many of them now come with blue-tooth or wifi links so you can read and control them from your iPhone. (the iPhone is pretty close to a tricorder on its own.)
And there are a few hand-held raman spectrophotometers on the market now too. And some pretty small ground-penetrating radars.
WAY better stuff than the trek tricorders. I just wish I could get all the sensors I want bundled into , say, the end of a hiking stick and control them all from a decent piece of iOS software. It won't be long.