So you're really looking for a netbook and you decided (wisely) not to choose the iPad?

The real slam here is that there is any such thing as the "tablet" market. There's an iPad market, the netbook market, smartphone market, and PC market. Trying to make something that addresses all of these poorly is a bad idea.

Windows TabletPCs never really caught on, and as you mention, an ARM-based android "netbook" kills it for the target market.

Android tablets suffer from an app deficiency and still-maturing OS, not to mention, they are addressing the iPad's native market (if they switched gears, took netbooks head-on like the Asus Transformer they would probably have better results).