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The current model of the Commodore 64, or C64x as it's known, features a dual-core Intel Atom 1.80GHz processor, 2GB RAM as standard (expandable to 4GB) and an NVIDIA ION Graphics Processor with 512MB of VRAM. It has the option of WiFi and Bluetooth as well as either a tray-loading or slot-loading DVD drive -- or even a BluRay drive. Internal storage can be anything between 160GB and 1TB.
C64x systems cost from $250 for a "bare-bones" unit (featuring just the casing, keyboard and card reader) up to $895 for the BluRay and WiFi-equipped 4GB model with 1TB of storage. A bit more expensive than picking up a genuine 80s C64 from eBay, then, but rather more flexible in what it's capable of.