Strategically, I don't think they're in a good position at all. With iOS they banked on the future of tablets being touch only (which is why they eliminated the mouse pointer) and ARM based. By keeping iOS separate, they were also able to use the platform to create a walled garden full of cheap software, which was a big key to their financial success.
The only reason to merge tablet and laptop is to take advantage of the x86 ecosystem. They have no way of harnessing this advantage without killing iOS.
I can't help but agree with you. I realize I was being an optimist, but this is what's so difficult about running a public company. When Apple developed the iPhone, they acknowledged they were going to cannibalize their iPod sales, but they went through with it anyway. That is what I suggest they do here.
I can see why you'd feel they need to make this product using an x86 processor, and you may be right. However, my thinking is they put significant developement into IOS 6 with a significant UI update, support for the use of a mouse, and develop a device that is able to work as a tablet, but also support the traditional use of a laptop. If they can pull it off, it would be better if they stayed with IOS 6 because the graphics and processor cost less which would allow them to keep their margins but still provide an affordable product. They days of $1,000 plus devices commanding enough market share for Apple to grow are over.
Whether they go your route or mine, you are probably correct unless they have kept such a project secret with some development time behind it. I would think if they started development and did it correctly, they could be looking at 3 years of development. Whatever it may be the case, when you get to the size of Apple, you have to find a new market and I think this has potential if developed correctly, and the release handled correctly. Apple also has to keep their reputation as an innovator in the mean time, or whatever they release wouldn't be taken seriously.