The smaller Boxster you are referring to jacabean is the baby Boxster or( the New 356 as it is called internally at Porsche) it will share the same mid-engine platformW/ the new VW Bluesport and the new Audi R4 rumor is that Porsche is developing a horizontally opposed 4-cylinder Turbo 2.0L engine producing 250-300hp. for the car.
The new 356 will be smaller and lighter then the 987 cost less, around $ 40,000 it is ment to undercut the base Boxster/Caman and will be on sale sometime in 2012 and it will still be called a Boxster.