An IBM look-alike has been introduced by Compaq Computer Corp. of Houston. "The Compaq" is a 16-bit system using the same Intel 8088 micro-processor adopted by IBM. The smallest configuration has 128 Kbytes of random access memory, but the unit may only be expanded to 256 Kbytes, one-fourth of the capacity of the IBM. Compaq has a high-resolution 9-inch diagonal screen and two built-in disk drives. It weighs much less than the IBM-only 28 pounds- and so is relatively portable. All IBM software can be run on the Compaq without modification. The price is $2,995, approximately $800 less than the IBM. More IBM look-alikes are expected to reach the market in the near future. [Contact: Compaq Computer Corp., 12330 Perry Road, Houston, TX 77070, (713) 890-7390.]