Dedicated machines designed for specific computational algorithms can
outperform conventional computers by several orders of magnitude. In this note
we describe {\it Ianus}, a new generation FPGA based machine and its basic
features: hardware integration and wide reprogrammability. Our goal is to build
a machine that can fully exploit the performance potential of new generation
FPGA devices. We also plan a software platform which simplifies its
programming, in order to extend its intended range of application to a wide
class of interesting and computationally demanding problems. The decision to
develop a dedicated processor is a complex one, involving careful assessment of
its performance lead, during its expected lifetime, over traditional computers,
taking into account their performance increase, as predicted by Moore's law. We
discuss this point in detail